VIEWS: 565 PAGES: 8 CATEGORY: Wills and Trusts POSTED ON: 1/15/2011
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 revocable trust designates the settlor as the beneficiary during their lifetime. Upon death of the settlor, the trust assets will be distributed to the beneficiaries as designated pursuant to “Schedule B” of this document. This document can be used by individuals that want to create a trust for their own benefit during their lifetime and for the benefit of designated beneficiaries upon their death.
"Revocable Living Trust"