Free Living Trust

The grantor will continue to benefit from their assets during their lifetime and as opposed to an irrevocable living trust they retain the right to revoke or amend their trust.

Free living trust. The ohio revocable living trust form is a document which places the assets and property of the grantor into a trust so that their heirs will avoid probate when the grantor s estate is distributed. Living trusts are well known estate planning devices for families. A living trust is an attractive option for people with substantial assets or for those who want the details of their estate to remain private. Unlike a will revocable trusts are not subject to probate at the grantor s death so the trust document is not made public.

You may then list the property you will place in the trust as well as your beneficiaries. Unlike a will a trust does not go through the probate process with the court. A living trust is a way for you to set aside funds for quicker distribution for caring for your minor children disabled family members or pets. After executing your living trust document properly you will need to transfer your property into the trust.

To set up a living trust you first create a revocable living trust document and appoint a trustee. A living trust is a document that allows individual s or grantor to place their assets to the benefit of someone else at their death or incapacitation. Therefore the person that is selected as the successor trustee will oversee that all the property in the trust will transfer to the beneficiary at the time of the grantor s death the beneficiary and the successor trustee are often the same person.