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5. Distribution during the grantor's lifetime. Living trusts can also distribute assets during the grantor's lifetime. In some cases, such as the Medicaid trust, that can be for the grantor's benefit.
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 ...
A living trust is a legal arrangement you can use to transfer assets to your loved ones. In that regard, it's similar to a will, only with one major difference.
Assets you place into the trust are subject to whatever taxes you'd normally have to pay. If you're working and earn $150,000 a year, you can't, for example, place that money into a trust to avoid ...
On the life tenant's death, the trust comes to an end, and the capital of the trust is paid to another person, known as the remainderman, as specified by the trust document. One form of life interest is a life estate , an ownership interest in property that lasts for the life of the party to whom it has been granted.
A living trust is a legal document that directs the transfer of ownership of your assets to a trust, from which a trustee distributes them according to your instructions after your death.
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.
Image source: Getty Images. Putting a living trust in place can be costlier and more time-consuming than a typical will. But there's a good reason to make that investment.
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