What is a Living Trust?
A Living Trust is an entity created by a written document. A trust agreement is a special “instruction manual” telling the trustee how to manage the trust’s assets. Trusts are often used to: avoid death taxes, manage money for children, avoid probate, and manage real estate in other states. The Trust should include all your directions as to how your wealth will be divided after your death and how and when it will be distributed. You should seek the services of an attorney who is familiar with drafting living trusts to make sure that your trust is properly drafted.