WFB Legal Consulting

Simply put, a trust is an arrangement under which one person, called a trustee, holds legal title to property for another person, called a beneficiary. You can be the trustee of your own living trust, keeping full control over all property held in trust.  A “living trust” (also called an “inter vivos” trust) is simply a trust you create while you're alive, rather than one that is created at your death. Different kinds of living trusts help you avoid probate, reduce estate taxes, and even set up long-term money management. For example, assets you leave to your kids can be made available to cover their living expenses until they are old enough to manage the assets on their own. Likewise, a trust will protect inheritances should the children get divorced, sued or even declare bankruptcy.

Official Website