Seniors

Legal Lines: What is a Trust?

Question: What is a trust and how can I decide if that should be a part of my estate planning?

Answer: A trust is a written agreement (or contract) between the Trustmaker and the Trustee under which the Trustee holds and manages property for the benefit of the Beneficiaries chosen by the Trustmaker. The most common type of trust in an estate planning context is a revocable living trust, sometimes also called “intervivos trusts,” and may be an effective estate planning tool.

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