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The Illinois revocable living trust is an entity into which a person places their assets to save the inheritors the long and costly probate process in Illinois. A testamentary trust is a trust that is created and funded at your death. Who controls the assets of a trust? In short, the trustee. For a revocable living ... 01-Jun-2022 — An Illinois living trust is a document that allows the recipient(s) of a deceased individual's assets to avoid the court-supervised probate ... A Revocable Trust is any trust that is set up in such a way that the grantor reserves the right to revoke the trust at any time and remains in control of the ... Creating a living trust in Illinois can be a valuable estate planning tool giving you control over your assets, avoidance of probate, and a useful estate ... Choose whether to make an individual or shared trust. · Decide what property to include in the trust. · Choose a successor trustee. · Decide who will be the ... There are two types of trusts in Illinois. A revocable living trust is a ... Legal Forms & Services. LEGAL RESEARCH. Learn About the Law · State Laws · U.S. ... 24-Sept-2020 — In Illinois, one of the most common types of trusts used in estate planning is known as a revocable living trust, or inter vivos trust. This ... Creating and Funding an Illinois Revocable Living Trust. The living trust is a written document, usually drafted by a qualified estate planning attorney, that ... The Steps Needed to Establish a Trust Include: · Determining the type of trust you need. · Take inventory of your investments, assets, and property. · Select a ...