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The two main estate planning tools are wills and living trusts. While they have some overlaps, these instruments also have key […] The post Differences Between a Living Trust and a Will in Texas ...
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 ...
If a revocable living trust is used as a part of an estate plan, the key to probate avoidance is ensuring that the living trust is "funded" during the lifetime of the person establishing the trust. After executing a trust agreement, the settlor should ensure that all assets are properly re-registered in the name of the living trust.
Inter vivos trust (or 'living trust'): A settlor who is living at the time the trust is established creates an inter vivos trust. Irrevocable trust: In contrast to a revocable trust, an irrevocable trust is one in which the terms of the trust cannot be amended or revised until the terms or purposes of the trust have been completed. Although in ...
A living trust is a legal arrangement that allows you to pass on assets to the beneficiaries you designate. You're able to maintain control over a trust and its assets as long as you're alive.
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