TRUSTS
A trust is an agreement that determines how a person's property is to be managed and distributed during his or her lifetime and also upon death. A trust is classified as a "living" trust when it is established during the settlor's lifetime and as a "revocable" trust when the settlor has reserved the right to amend or revoke the trust during his or her lifetime. A properly-executed trust agreement can enable a person to transfer his or her property outside of the probate process, hastening the transfer to beneficiaries and relieving post-death costs. A trust may offer significant financial advantages to you and your heirs. Careful discussion with your lawyer is required to ensure that the design of the trust is aligned with your goals and the makeup of your estate.
