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TYPES OF REVOCABLE LIVING TRUSTS


Individual Living
Trust

Use the Individual Trust if you are single and making a revocable living trust for yourself.  You can use this form to leave all of your property, or any part of it, including your share of co-owned property, to your named beneficiaries. With this trust, you can also: 

  a. Name your successor trustee or trustees; 

  b. Leave property to minors or young adult (including your own children) through a child�s trust, or a gift under the Uniform Transfers to Minors Act; 

  c. Name a property guardian for your minor children, when applicable;

  d. Quickly set up custodianships for minor children (within your Declaration of Trust), when applicable;

  e. Bequeath unlimited assets.

 

Shared Marital Living
Trust

The Shared Marital Revocable Living Trust is designed to avoid probate.  You and your spouse will be co-trustees of your revocable living trust. While you both share control over shared property in the revocable living trust, each of you retains sole control over your separate property (in the Declaration of Trust separate property is identified and listed as such). You may sell, gift, give or do anything you wish with your separate property.