Living trust

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A living trust (or inter vivos trust) is a type of trust created for the purpose of holding ownership to an individual's assets during the person's lifetime, and for distributing those assets after death.

In the United States it is often used because it can allow assets to be passed to heirs without going through probate. Avoiding probate may save some costs, time, and maintain privacy (the probate process is public).


Wikipedia article (the free online encyclopedia) reproduced under the terms of the GNU (General Public License) Free Documentation License.

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