Definition: Living Trust

A Revocable Living Trust is the most reliable and thorough foundation for an estate planning portfolio, and provides the most complete financial protection for you and your family. It holds title to all of your major assets. As Trustee and Beneficiary, you have total control to make decisions regarding your assets (property, investments, cash, etc.) during your lifetime. Following your death, a successor trustee takes over the trust and fulfills the wishes you have articulated in the trust. A Living Trust avoids Probate, can finance your final health care expenses, and supports the values that are important to you.