Created as an entity into which assets can be placed for normal use during your lifetime and then be available for distribution to anyone you select after your death.
- Designed to pass your assets to your loved ones as you planned.
- Eliminates the delay and cost of probate.
- Created with a document known as a Declaration of Trust or Trust Agreement.
- This legal document contains articles which name who you want to leave your estate to.
- This legal document contains articles which state how, you want to leave your assets.
- Can also be called by its common name, a “revocable living trust”.
Described as “living” because the trust is:
- Created while you are alive.
- Survives you at death.
- Will distribute your assets per your instructions.
Revocable Living Trust:
- Can guard your assets from Medi-Cal/Medi-Care collections.
- Survives the disability of the Trustor/Settler.
- Provides special asset protection.
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