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Description Living Trust Children
This form is a living trust form prepared for your state. A living trust is a trust established during a person's lifetime in which a person's assets and property are placed within the trust, usually for the purpose of estate planning. The trust then owns and manages the property held by the trust through a trustee for the benefit of named beneficiary, usually the creator of the trust (settlor). The settlor, trustee and beneficiary may all be the same person. In this way, a person may set up a trust with his or her own assets and maintain complete control and management of the assets by acting as his or her own trustee. Upon the death of the person who created the trust, the property of the trust does not go through probate proceedings, but rather passes according to provisions of the trust as set up by the creator of the trust.
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Wa Adult Form FAQ
Why have a living trust instead of a will?
What are the disadvantages of a living trust?
Is a trust the same as a living trust?
Can you have both a will and a living trust?
What is better a will or a living trust?
Which is better a will or a living trust?
Should I have both a living trust and a will?
What is the difference between a trust and a living trust?
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