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Living trusts are private, changeable, and efficient. Are they right for you?
Image source: Getty Images. 1. You don't have to go through the probate process. When it's time for a will to be executed, it goes through a process called "probate." During probate, a court ...
Image source: Getty Images. 1. You can control your assets and change your mind as needed. A living trust is a legal arrangement that allows you to pass assets on to other people.
The best course of action before opening a living trust for a specific purpose is to contact an experienced financial planner or estate planning attorney. 5. Distribution during the grantor's lifetime
Another neat thing about living trusts is that they aren't subject to probate the way wills are. So putting one in place could mean a quicker transfer of assets. 3.
A pour-over clause in a will gives probate property to a trustee of the testator's separate trust and must be validated either under incorporation by reference by identifying the previously existing trust which the property will be poured into, or under the doctrine of acts of independent significance by referring to some act that has ...
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