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The post Differences Between a Living Trust and a Will in Florida appeared first on SmartReads by SmartAsset. A last will and testament is a basic building block for establishing an estate plan.
The ownership of a life estate is of limited duration because it ends at the death of a person. Its owner is the life tenant (typically also the 'measuring life') and it carries with it right to enjoy certain benefits of ownership of the property, chiefly income derived from rent or other uses of the property and the right of occupation, during his or her possession.
Virtually all trusts are made in written form, either through an inter vivos or "living trust" instrument (created while the settlor is living) or in a will (which creates a testamentary trust). Therefore, in understanding certain terms in a trust, general rules of construction regarding interpretation of wills or other testamentary documents ...
A living trust is a legal setup that allows an individual or couple to specify how their assets should be distributed after they pass away. Also known as a revocable trust, it can be adjusted or ...
In trust law, an asset-protection trust is any form of trust which provides for funds to be held on a discretionary basis. Such trusts are set up in an attempt to avoid or mitigate the effects of taxation, divorce and bankruptcy on the beneficiary. Such trusts are therefore frequently proscribed or limited in their effects by governments and ...
Deciding the best way to leave money to a heir can be complicated. When the choice is between naming someone as a beneficiary of an account or putting the account into a living trust, the trust ...
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