Maximum control and privacy
A revocable living trust is another type of legal arrangement that specifies where you want your assets to go in the event of your death. It provides you with more control and more options than a basic will, such as setting specific conditions that must be met before certain assets are distributed.
A revocable living trust can go into effect after your death or while you’re still living, and it can be amended or revoked at any time. It’s a powerful tool that offers flexibility, control, and privacy.
One of the biggest advantages of having a trust is that it allows your estate to bypass the probate process after your passing, since your assets can be transferred directly to your beneficiaries. Because of this, having a trust often saves you and your loved ones a significant amount of time, money, and stress.
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What is a trustee?
A trustee is the person or entity responsible for managing your assets according to the terms of your trust. Designating a trustee ensures that your finances are handled according to your instructions if you become unable to manage them yourself.
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