Revocable Living Trusts
A revocable living trust is a popular and preferred estate planning tool that you can use to determine who will get your property when you die. Most living trusts are “revocable” because you can change them as your circumstances or wishes change. Revocable living trusts are “living” because you make them during your lifetime. Other options include irrevocable trusts, charitable trusts and other specific-use trusts.
A living trust document is a written document, signed by the trust maker and a notary public. The document must list the property in the trust, name a trustee, and name who gets the property when the trust maker dies.
The trustee is the person who will take care of the property. While the trust maker is alive, the trustee is usually the trust maker and then a successor trustee takes over after the trust maker’s death.
View the following 3rd-party publications about this topic. This will help further introduce the topic allowing us to discuss this matter and its applicability to your unique personal and business matters. This firm does not endorse the 3rd party site and provides it for general reference only.