Living Trust

A Living Trust is a revocable trust (meaning that you can terminate or change it at any time) which allows you to manage your affairs until you become incapacitated, at which time a Trustee named by you in the trust document has the legal authority to manage your affairs. A Living Trust also contains provisions similar to those in a Will which designate how your estate is to be handled after you die. There are many reasons for planning your estate using a Living Trust instead of a Will and durable Powers of Attorney, the most common being to avoid probate.