What is a living trust?
A living trust is a legal document that dictates who you wish to manage and distribute your assests if you become unable to do so. Additionally, it allows you state who receives your assests when you eventually pass away. Once a living trust is establised, ownership of your assets is transfered to the trust but you remain in control of those assets. Assets in the trust can then be managed and distributed without the need and avoiding the costs associated with the probate court process.