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The nice thing about a living trust is that it isn't subject to probate. So it's worth considering one if you happen to own properties in different parts of the country. 2.
A living trust can also accommodate a growing or changing family. You can add or remove beneficiaries as you see fit to account for events like marriage, the birth of a child, or divorce.
Image source: Getty Images. 1. You don't have to go through the probate process. When it's time for a will to be executed, it goes through a process called "probate." During probate, a court ...
Image source: Getty Images. 1. You can avoid going through probate. When you pass away with a will, it's subject to a court process called "probate."During probate, a court will verify that a will ...
In the trust law of England, Australia, Canada, and other common law jurisdictions, a discretionary trust is a trust where the beneficiaries and their entitlements to the trust fund are not fixed, but are determined by the criteria set out in the trust instrument by the settlor. It is sometimes referred to as a family trust in
Assets held in a living trust become legally owned by the trust, not by the grantor -- although the grantor still retains usage of the trust assets. This helps some families qualify for needs ...