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Trust funds are legal entities that provide financial, tax, and legal protections for individuals. They require a grantor, who sets up the trust, one or more beneficiaries, who receive the assets when the grantor dies, and the trustee, who manages the trust and distributes the assets at a later date.

Distribute trust assets outright The grantor can opt to have the beneficiaries receive trust property directly without any restrictions. The trustee can write the beneficiary a check, give them cash, and transfer real estate by drawing up a new deed or selling the house and giving them the proceeds.

A living trust never needs to be filed with a court, either before or after your death. The probate court isn't involved in supervising your trustee, the person you name in the trust document to handle the distribution of the trust assets.

A living trust never needs to be filed with a court, either before or after your death. The probate court isn't involved in supervising your trustee, the person you name in the trust document to handle the distribution of the trust assets.

Creating a living trust can take as little as a few days or as long as a few weeks, on average. Once you sign the trust (in the presence of a notary), it is effective immediately. However, you'll need to fund it, which typically takes a few months to complete.

A living trust is an important part of your estate plan. Most people can create a living trust without an attorney using software or an online service.

When you create a DIY living trust, there are no attorneys involved in the process. You will need to choose a trustee who will be in charge of managing the trust assets and distributing them.It is also possible to choose a company, such as a bank or a trust company, to be your trustee.