Living Trust

A Living Trust is a legal document created during a person's lifetime that holds their assets, such as property and bank accounts, for their benefit. The person who establishes the trust, known as the grantor, can manage the assets while they are alive and specifies how they should be distributed after their death. Unlike a will, a Living Trust avoids probate, the legal process of distributing a deceased person's assets, making it often faster and more private. It provides flexibility, control, and can help in case of incapacity by allowing a designated trustee to manage assets.