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Image source: Getty Images. 1. You want to maintain control of your assets while you're still alive. Moving assets into a living trust allows you to pass them on to your loved ones seamlessly. The ...
If you are at a stage in your life when you're thinking about how you'd like your assets to be distributed after you pass, you might want to consider establishing a trust instead of (or in addition...
If you have a will but do not put your assets in a trust, the probate process may be required in order to distribute your assets when you die. On the other hand, a properly structured joint trust ...
t. e. In English law, secret trusts are a class of trust defined as an arrangement between a testator and a trustee, made to come into force after death, that aims to benefit a person without having been written in a formal will. The property is given to the trustee in the will, and he would then be expected to pass it on to the real beneficiary.
A testamentary trust is a legal arrangement created as specified in a person's will, and is occasioned by the death of that person. It is created to address any estate accumulated during that person's lifetime or generated as a result of a postmortem lawsuit, such as a settlement in a survival claim, or the proceeds from a life insurance policy ...
v. t. e. A will and testament is a legal document that expresses a person's (testator) wishes as to how their property (estate) is to be distributed after their death and as to which person (executor) is to manage the property until its final distribution. For the distribution (devolution) of property not determined by a will, see inheritance ...
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