Should you create a living trust?

Description

Abstract: A living trust is a legal entity into which the grantor, settlor or trustor (in trust parlance) can place assets to be managed during the grantor’s lifetime and after he or she passes away. This article looks at the benefits and drawbacks of living trusts and notes that appropriately preparing and maintaining one requires a strong knowledge of the rules, as well as a keen understanding of the specific grantor’s financial situation.