Trusts and Other Estate Planning Documents

A living trust is a revocable trust that is set up during your life. Living trusts are also commonly referred to as “revocable trusts” or “inter vivos trusts.” Basically any revocable trust is a “living trust.”

A living trust is intended to hold assets. Once created, the goal will be to make sure your assets are titled in the name of your living trust. You, as the Trustee of your living trust, maintain complete control of the trust (and assets) during your life and can add or remove assets as you wish. Upon your death, the assets in the trust are distributed by the successor trustee (usually your spouse or another loved one) to your named beneficiaries. All assets in the trust will pass to your named beneficiaries without having to go through the probate process.