As an alternative to using a Will as your primary document for transferring property at your death, you can transfer all or some of your assets into a Living Trust that you create during your lifetime. At the time of your death, these assets are distributed according to the trust provisions, not by the provisions of your Will. A Living Trust is both an intervivos trust (meaning that it is created while you are alive) and a revocable trust (which means it can be modified during your lifetime).  A Living Trust generally becomes an irrevocable trust once you die, meaning it can’t be modified at that point.

A Living Trust is established by first signing a written document that includes the trust terms, and then transferring all or most of your assets into the trust. The trust provisions usually provide that you are entitled to all of the trust's income and assets during your life. Upon your death, the trust then provides for the distribution of your assets to your beneficiaries in much the same manner as a will. Typically, you manage the assets of the trust during your lifetime. After your death, a successor trustee that you name in the trust agreement carries out the remaining trust duties, similar to how an executor would handle your Will.

Make document Start Your Living Trust It’s simple with step-by-step guidance.

Make document Start Your Living Trust It’s simple with step-by-step guidance.