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A living trust is a legal document that allows you (the grantor) to put assets into a trust and outline exactly how you want them distributed after you pass away. A will works similarly, but the ...
When you use a living trust, you can completely avoid the probate process because the assets are already in the trust, and managed and distributed according to the terms already set. 2. Living ...
Of particular note is the ability of a living trust to avoid probate, the legal procedure that takes place to transfer an individual's assets in accordance with their will after they die. Wills ...
Image source: Getty Images. 1. You have a number of beneficiaries. The nice thing about a living trust is that it allows you to maintain control over your assets as long as you're alive.
Perhaps the biggest benefit of having a living trust is that it allows you to avoid the probate process. Probate is the legal process of proving that a will is legitimate. And according to the ...
A living trust provides privacy that could help inheritors avoid such situations. 3. Living trusts provide a lot of flexibility. Living trusts are also known as revocable trusts: They can be ...