Convert To Word Legal Connecticut Living Trusts Forms For Free

A "living" trust (also called an "inter vivos" trust) is simply a trust you create while you're alive. The beneficiaries you name in your living trust receive the trust property when you die.

WILL A LIVING TRUST AVOID PROBATE? Yes, but under current Connecticut law, not entirely. If assets are properly placed in trust before death, the living trust ?bypasses? probate as no proceedings are now necessary to pass title on death.

A living trust is a legal arrangement used in estate planning and set up by someone during their lifetime. It designates a trustee and provides explicit directions for the distribution of assets after the death of the grantor. A trustee manages assets in a trust ing to beneficiaries' best interests.

Both are useful estate planning documents that serve very different roles, but can work together to create an estate plan. The main difference between them is that a will goes into effect only after you die, while a trust takes effect as soon as you create it.

What's the advantage of establishing a living trust? The single greatest advantage of establishing a living trust is that the property left through the trust does not have to go through probate court proceedings and is paid directly to the parties that you intended to receive it.

Some of the disadvantages of living trust really stem from misunderstanding the purpose and use of this estate planning instrument. For example, some people assume that any and all trusts are useful asset protection tools. This is unfortunately not the case; most living trusts will offer no asset protection.