There are many different types of trusts such as charitable, funded, unfunded, living, testamentary, revocable, and irrevocable trusts. However, every kind of trust (aside from grantor trusts) can be classified as either a simple trust or a complex trust. The difference between the two types ...
A living trust becomes valid immediately after you execute documents, and your property is transferred into that trust. Then it’s up to you to manage those assets. If you’re an investor, then you can look at it as a form ofactive managementversuspassive management, only in this case, a...
You don’t care about avoiding probate after the death of the second spouse– a simple will does not avoid probate. If you want to avoid probate, it is best to start with a revocable living trust and not a simple will. Creating a revocable living trust is more involved and will cost m...