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This is a Living Trust Property Inventory form. A living trust is a trust established during a person's lifetime in which a person's assets and property are placed within the trust, usually for the purpose of estate planning. This form allows the Trustee to record a Description of Property, Date Acquired by Trust, Value, Date Sold or Transferred so that all property held by the trust can be accounted for including the real, personal or intellectual property.
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Interesting Questions
A living trust is a legal document that allows you to transfer your assets to a trustee to be managed during your lifetime and then distributed to beneficiaries after your death without the need for probate.
Creating a living trust in New Hampshire can help you avoid probate, maintain privacy, provide for incapacity, and potentially reduce estate taxes.
To create a living trust in New Hampshire, you must draft a trust document, transfer your assets into the trust, and appoint a trustee to manage the trust.
A revocable living trust can be changed or revoked during your lifetime, while an irrevocable living trust cannot be modified or revoked once it is established.
No, you will retain control over your assets if you create a revocable living trust. With an irrevocable living trust, although you transfer legal ownership, you can still retain some control or use of the assets.
Yes, it is generally recommended to have a pour-over will along with a living trust, which ensures that any assets not transferred to the trust during your lifetime will be directed to the trust upon your death.
Absolutely! You can act as the trustee of your own living trust, maintaining control over your assets and managing them as you see fit.
There are potential costs involved in creating and maintaining a living trust. Additionally, assets not properly transferred to the trust may still need to go through probate.
Upon your death, the assets held in the living trust can be distributed to your named beneficiaries according to your wishes, without the need for probate.
If you have a revocable living trust, you can change or revoke it at any time during your lifetime. However, with an irrevocable living trust, modifications are challenging and require court approval.
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