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Nolo, formerly known as Nolo Press, is a publisher in Berkeley, California, that produces do-it-yourself legal books and software that allows people to handle simple legal matters such as making wills or writing business partnership contracts. [4]
A living trust is a legal setup that allows an individual or couple to specify how their assets should be distributed after they pass away. Also known as a revocable trust, it can be adjusted or ...
If you want an extra layer of security and peace of mind, you can create a revocable living trust. A trust would have helped Pete’s family avoid probate, protect their privacy, and minimize ...
This privacy alone makes some people prefer going the living trust route. 3. Living trusts allow you to make adjustments if you need to. A living trust is also known as a revocable trust because ...
Revocable living trusts were often touted and marketed as valuable solely because of their ability to "avoid probate" and the costs and complications that surrounded it. Although probate avoidance is certainly a consideration in the use of a "living trust", there are many other estate planning techniques which also "avoid" probate.
A living trust, an inter vivos trust, can be either revocable or irrevocable during the life time of the creator (the grantor, settlor, trustor). Some people do use the term "living trust" more narrowly -- to refer only to a revocable trust created during life. That usage of the term is not precisely correct. In most jurisdictions following the ...
While the trust-maker is usually the trustee while they are alive, you can also name a successor trustee who will take over when the time comes. This person will receive the assets in the trust ...