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You’re correct about a major difference between a will and a trust: A will goes through probate after you die, so it becomes public record and can be more easily contested. A trust doesn’t go ...
A living trust, meanwhile, is not subject to probate in Florida. Any assets that you leave in a trust can be transferred to the trust beneficiaries upon your death, according to the terms that you ...
Private and public trusts: A private trust has one or more particular individuals as its beneficiary. By contrast, a public trust (also called a charitable trust) has some charitable end as its beneficiary. To qualify as a charitable trust, the trust must have as its object certain purposes such as alleviating poverty, providing education ...
The post Living Trust vs. Will in California: Differences and How to Choose appeared. Today’s choices shape the future for children, great-grandchildren and future descendants. For Californians ...
The trustees should administer the trust for the sole benefit of the beneficiaries, against all others who might seek to benefit or profit from trust assets. [54] The first cardinal principle is that the trustee should not personally profit from any transactions that occur with respect to trust property.
In Oregon, a 1967 "Beach Bill" affirmed the state's public trust doctrine, and the right of the public to have access to the seashore virtually everywhere between the low and high tide marks. In California the situation is more complicated: private landowners often try to block traditional public beach access, which can result in protracted ...
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