How Is a Revocable Living Trust Funded?

There is a legal device called a revocable living trust that is an extremely effective and versatile estate planning tool. Though some people believe that trusts are only for the rich, you could benefit from this type of trust even if you are not a multimillionaire If you establish a revocable living trust, you  continue to control the actions of the trust, because you can act as the trustee and the beneficiary initially. You have the power to alter the terms of the trust, and as the name would suggest, you can revoke the trust entirely if you ever choose to do so. When you create the trust document, you name a successor trustee to administer the trust after your passing or upon your incapacity, and you name successor beneficiaries who will receive distributions from the trust. After you are gone, the successor trustee would follow the instructions that you recorded in the trust. Assets would be distributed to the beneficiaries, and these distributions could normally take place in a


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