The 'living trust' has become an increasingly popular estate planning tool because of the many benefits it offers.
One of the most common trusts is called a living or revocable trust. It allows you to place assets in a trust while you are alive, with control of the trust transferred after you die to beneficiaries that you have designated. You might consider creating a living trust for one of several ...
With a living (inter-vivos) revocable trust, the trustor can also be the trustee, which means that the assets are controlled by the owner. However, since the assets are in the trustor’s name, estate taxes might apply if the value of the assets exceeds the estate-tax exemption at the ...
Since a POD is a type ofrevocable living trustthat has someone else with a beneficiary interest on the account, the FDIC provides up to $1,250,000 coverage on up to five accounts at a single bank where each account has a differently named beneficiary. Each beneficiary cannot be covered for...
An inter-vivos trust, also known as a living trust or a revocable living trust, is a legal arrangement whereby assets are transferred from the grantor to a trustee during the grantor’s lifetime. This type of trust is different from a testamentary trust, which is created through a will ...
Revocable & Irrevocable: Here, the grantor can change the rules of the trust and even revoke it if necessary Compared to a revocable trust, in an irrevocable trust, the grantor transfers ownership to the trust. The grantor will have no control over the assets ...