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FreeWill Co is a company whose website, FreeWill.com, has online software which helps people write wills for free and make charitable contributions, and it reports each person's planned bequests to charities which pay subscription fees. [1] It also helps people write advance healthcare directives [2] and living trusts in California. [3]
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 ...
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 something you might consider for managing the transfer of wealth and assets … Continue reading → The post Living Will vs. Living Trust appeared first on SmartAsset Blog.
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.
The nice thing about a living trust is that it isn't subject to probate. So it's worth considering one if you happen to own properties in different parts of the country. 2.