A living trust is a legal document that allows you to place your assets—such as your home, bank accounts, and investments—into a trust while you’re still alive. You remain in control of these assets as the trustee and can change or dissolve the trust at any time. When you pass away, the assets in your living trust are transferred directly to your chosen beneficiaries without going through probate, which saves time, maintains privacy, and can reduce costs. A living trust can also help manage your affairs if you become incapacitated, since your appointed successor trustee can step in to handle things according to your wishes.
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