The Law Dictionary for Everyone
A trust is an estate planning tool created by an individual to manage his assets prior to his death, and to specify how is assets are to be distributed after his death. The individual creating the trust, called a “Trustor,” or “Grantor,” transfers ownership of property and assets into the trust for the benefit of his heirs or other named […]
Read moreA living trust is a legal document that spells out an individual’s wishes concerning his or her assets, dependents, and other affairs, which are to be handled by another person, called a “trustee.” A trust is created by the individual, called a “Trustor,” at any point during his life, appointing a trustee, and detailing what is to be dealt with, […]
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