Setting up a living trust is a great ways to transfer your estate to another entity, but exactly do they work? The individual that puts their property into the living trust is called the trustor. He trustee is the person that manages the assets and property. And of course, the individual or entity that receives take advantage of from a living trust known as the inheritor. Most of the time, the trustor plays function of both trustee and trustor.

Another a key point is you want to make sure your trust is revocable. That means it could be changed at any age. Lets talk about how it can save money with the loved ones with a living trust. Basically, you prevent the court cost, the attorney fees, various other court related fees