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What Is a Living Trust?

By Jeremy Bowman – Updated Aug 26, 2024 at 1:52PM

Key Points

  • Living trusts let you manage assets during life and keep beneficiary details private post-death.
  • They avoid probate, can be altered or revoked, and enable asset control if you're incapacitated.
  • Drawbacks include higher setup costs, complex maintenance, and extended contesting period.
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