Definitions for "Revocable Living Trust" Add To Word List
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a complicated legal document
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a legal device that can be used
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a legal document that can name a donor as the trustee
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a legal entity that can hold title to property
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a legal instrument that holds cash, securities, real estate, etc
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a legal instrument that you create to hold title
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a legal strategy which allows you to transfer the ownership of your titled property (home, bank accounts, etc
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a more complicated document than a will and therefore is more costly to prepare and set up
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an estate planning document which allows an individual to direct another person (the Trustee) to distribute property upon their death, according to specific wishes
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A device that allows you to transfer legal title of your property to another person (or to yourself as trustee) to hold for the benefit of yet another person (beneficiary) in the cheapest and most effective way.
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