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How do I set up a living trust?

To set up a living trust, you must write a trust agreement and then properly fund the trust with assets. The trust document requires notarization in most states. You can set up a revocable living trust on your own, but an irrevocable trust will likely require the services of an attorney.

What information do I need to set up a trust?

Grantor’s Details: This should include your full name and other relevant information, establishing you as the person creating and setting up the trust. Assets and Property of the Trust: Incorporate the assets you decided on earlier, such as your home, business, and any other significant assets.

Should you set up a trust?

Anyone who wants to ensure their assets are well-managed and distributed according to their wishes can benefit from setting up a trust. More specifically, benefits of a trust can include: Avoiding Probate: Speeds up asset distribution and saves on associated costs. Privacy: Trusts are not public records, ensuring the details remain confidential.

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