Don’t Fall for These Living Trust Myths

A lot of people who research estate planning come to the conclusion that they need to create a revocable living trust. While a revocable living trust is an excellent estate planning tool to have, it’s also something that can be a little difficult to understand. Further, you might come across some popular myths and misperceptions about living trusts that could get in the way. To help explain living trusts and show you why some of the popular myths are wrong, let us take a look at some common misperceptions. All you need to do to create a living trust is create the trust instrument. The trust instrument is the document that will actually create the revocable living trust. All trusts start with this key document, but the process of trust creation doesn’t end there. Instead, once you have the trust instrument in place, you must then go about the funding process. Funding is what gives the revocable living trust its teeth. When you fund the trust you take some of your individually owned


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