Do I Still Control Property in a Revocable Living Trust?

You have to decide how you want to transfer assets when you are planning your estate, and you have multiple options. If you simply assume that you should use a last will as a vehicle of asset transfer, you may be overlooking more useful solutions. Most people have heard of trusts, but misconceptions about them circulate. Many individuals are under the impression that you surrender control of assets that you convey into any type of trust. This is not the case. Revocable Living Trusts Revocable living trusts can be very useful for a wide range of people. You do not have to be wealthy to benefit from the creation of a revocable living trust. When you create a revocable living trust, you are called the grantor, trustor or settlor of the trust. The trustee handles the trust administration tasks, and the beneficiary can receive monetary distributions from the trust. The grantor of the trust can act as the trustee and the beneficiary at first. Because of this arrangement, you do not lose co


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