VIEWS: 1,267 PAGES: 13 CATEGORY: Wills and Trusts POSTED ON: 10/18/2007
This is a legal document that determines how an individual's property is to be managed and distributed during their lifetime and also upon death. This type of trust, also called an "inter-vivos trust,” is created by a settlor, who transfers assets into the trust, which are then distributed to the beneficiaries. This particular trust is revocable and designates the settlor’s adult children as the beneficiaries, but this agreement can easily be customized to provide for different beneficiaries. This document can be used by individuals that want to create a trust to distribute assets for the benefit of their children upon their death.
"Revocable Inter-Vivos Trust"