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The term "incentive trust" is sometimes used to distinguish trusts that provide fixed conditions for access to trust funds from discretionary trusts that leave such decisions up to the trustee. Inter vivos trust (or 'living trust'): A settlor who is living at the time the trust is established creates an inter vivos trust.
Revocable living trusts were often touted and marketed as valuable solely because of their ability to "avoid probate" and the costs and complications that surrounded it. Although probate avoidance is certainly a consideration in the use of a "living trust", there are many other estate planning techniques which also "avoid" probate.
Trustee (or the holding of a trusteeship) is a legal term which, in its broadest sense, is a synonym for anyone in a position of trust and so can refer to any individual who holds property, authority, or a position of trust or responsibility for the benefit of another.
A living trust is a legal arrangement in which you put assets into a trust and specify how you want them distributed after you pass away. On the other end, the probate process is sometimes known ...
Living trusts dictate the distribution of someone's assets, and are created while that person, called the grantor, is still alive. The distribution can happen after death or before, depending on ...
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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