Understanding Living Trusts: A Practical Overview
The Basics of Living Trusts: What You Need to Know Defining Living Trusts: A Peek into Their Purpose A living trust, also known as an inter vivos trust, is a legal document that establishes a fiduciary relationship between a trustee and grantor. The grantor, usually the person who creates the trust, transfers their assets into this trust during their lifetime. The primary purpose of a living trust is to manage…