living trusts
Revocable inheritance arrangements
A living trust is a legal arrangement created during a person's lifetime to hold and manage assets, typically to avoid probate court after death.
The trust creator transfers property into the trust, names beneficiaries, and usually serves as trustee while alive: We put the house into a living trust.
Unlike a will, a living trust takes effect immediately and keeps assets private.
- willFaculty of deliberate choice
- estate planFramework for wealth transfer
- grantorOne who transfers rights
- trusteeOne managing another's assets
- trust fundAssets held for another
revocable trust · heir · pour-over will · trust agreement · successor · probate court · privacy · peace of mind · fiduciary duty · incapacity · avoidance · asset protection · legacy planning · executor · irrevocable · estate · real estate holdings · family home
- fiduciarytrust management, trust funds, custodian, custodial services, conservatorship
- probateexecutor, probate court, probate, beneficiary, executors
- truststrust fund, trust deed, trustee, trustees, beneficiary
- retirementretirement, retire, retirement age, retirees, retirement income
- investmentsbonds, stocks, securities, investment, equities
living trustswills
Legal inheritance documents
last will and testament · bequests · legacies · codicils · letters testamentary