What is a benefit of setting up a trust in personal finance?

Setting up a trust in personal finance provides several benefits, particularly in the context of asset transfer. By establishing a trust, individuals can ensure that their assets are passed on to beneficiaries in a controlled and efficient manner, which helps to avoid legal complications during the probate process. This streamlined transfer can save time, reduce legal fees, and provide clarity for all parties involved, thus fulfilling the intent of the trustor without unnecessary complications.

The efficient transfer aspect is especially important because it not only simplifies the distribution of assets after the trustor's passing but also can help protect those assets from creditors and legal disputes. Therefore, option B accurately highlights a key advantage of using a trust in financial planning.