Created by: Joseph Owen
"Over the last two decades, the popularity of Living Trusts has skyrocketed. No longer a tool just for the rich, Living Trusts are one of the most common estate planning tools in use today.
This legal arrangement, usually drafted by an estate attorney, creates a separate entity called a Living Trust. A Living Trust is called that simply because it is created while you're alive (as opposed to a "testamentary" trust created after death)."
The article continues to go in depth about certain aspects of Living Trusts such as; parties involved, history of the trusts, who needs them, funding your Living Trust, and reducing estate taxes.
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