Remainder Living Trust Sample With Will
Description
How to fill out Charitable Remainder Inter Vivos Unitrust Agreement?
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FAQ
A living trust, unlike a will, can keep your assets out of probate proceedings. A trustor names a trustee to manage the assets of the trust indefinitely. Wills name an executor to manage the assets of the probate estate only until probate closes. Trusts tend to be more expensive and more complex to maintain than wills.
A remainder beneficiary is a beneficiary of a trust whose benefit vests at a later time. As an example, I may receive income for life and only upon my death what is left of the corpus of the trust goes to my son. I am the income beneficiary and my son is the remainder beneficiary.
To leave property to your living trust, name your trust as beneficiary for that property, using the trustee's name and the name of the trust. For example: John Doe as trustee of the John Doe Living Trust, dated January 1, 20xx.
In trust law, a remainder interest is the part of the trust property that remains after the specific devises are given to the intended beneficiaries.
A simple example would be the situation in which one member of a family advances money to another and asks the second member to hold the money or to invest it for him. A more complicated example of an implied trust would be the situation in which one party provides money to another for the purchase of property.