Sign it &
Make it legal
Sign it &
Make it legal
With a Living Trust, you can set up a flexible estate plan that fits your needs. Created during your lifetime, a Living Trust allows you to transfer your assets to a separate legal entity. One common benefit of a Living Trust is that it helps prevent your estate from going through the probate process, saving time for the family members you leave behind. Create a Living Trust to control your assets and property while providing for your family after your death.
Note: This trust is NOT appropriate for individuals whose estate (including life insurance proceeds and retirement plans) exceeds the federal estate tax applicable exclusion amount of $5,250,000.
More than just a template, our step-by-step interview process makes it easy to create a Living Trust
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Inter Vivos Trust, Revocable Living Trust.
First, you'll need to create a trust and transfer ownership of some of your property to the trust. When doing so, name yourself (and your spouse, if you so choose) as trustees. This means that you'll retain control of the property. Then, in your Living Trust, name the beneficiaries you want to receive this property after your death. Appoint a competent and responsible "successor trustee" to handle the distribution of this property.
One of the most common questions people have when they're creating an estate plan is "what's the difference between a Living Trust and a Will?" You should know that while laws do vary state to state, there are a few important differences to keep in mind:
The most common types of Trusts are Revocable Living Trusts. This means, simply, that you have the right and the ability to nullify the Trust itself and either create a new one or use other estate planning documents to organize your affairs. An Irrevocable Trust, on the other hand, is a much more complicated document, generally created by those with a lot in the way of assets. Although it's never a bad idea to have an estate planning attorney look over your Trust, it's especially important if you're going to make your Trust irrevocable.
A Living Trust is just part of a complete estate plan. Here are some other documents you should consider:
If you have any questions about what's right for you and your estate plan, we can connect you with a lawyer for quick answers or a document review. If you'd like to read more about Living Trusts and other estate planning essentials, check out our Estate Planning Guide.