Saturday, 10 September 2016

Term of the Day living trust

trust created for the trustor and administered by another party while thetrustor is still alive. A living trust can be either revocable or irrevocable. A living trust avoids probate and therefore gets assets distributed significantly more quickly than a will does. It also offers a higher level of confidentiality, asprobate proceedings are a matter of trusts are 

Learn more about this term
Usage Example
After my father sold his company for hundreds of millions of dollars, he decided to give me some of the money before he died by creating a living trust for me.
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