What is a living trust?

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emprovision | 1 year, 4 months ago

A trust is an arrangement where a person sets out a plan to transfer control of their assets to another person. Often, trusts are set up for when someone dies and wants their business to go to a specific person.
A living trust is one that is set up during the owner's lifetime rather than after their death.

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rumanaafrida | 1 year, 4 months ago

A living trust is a legal document that intends to ensure a person's property is divided according to his or her wishes upon death. With it, a person actually transfers ownership of his assets to a trust and then selects a trustee, maybe a family member or friend, an attorney, or someone else to see over it.
Don’t confuse it with a living will – a legal document that describes which types of medical treatment one wishes to receive or not receive if incapacitated through illness or injury.

source(s):
http://www.free-living-trust-information.com/what-is-a-living-trust.html

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