What is a Trust?
A Trust is an arrangement under which the Trustee holds legal title to property for the benefit of the Beneficiaries, the primary purpose of which is to avoid Probate. A Revocable Living Trust, or “Inter Vivos Trust”, is one that is created during an individual’s lifetime, whereas a Testamentary Trust is a Trust created after an individual’s death according to the provisions in his or her Will.
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