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benefits of a living trust vs a will pepe unchain Bnb Eth XRP Bitcoin aave Bonk

What is the difference between a living trust and a will?

The three main differences between a living trust and a will are: A will won’t be effective until after the testator dies, while a trust goes into effect immediately after it’s signed. A will typically goes into probate after the testator dies, while a trust does not.

What is a living trust & how does it work?

A living trust is a legal arrangement that allows you to transfer ownership of your assets to a trust account for various financial purposes, including estate planning. You’ll assign a trustee ⓘ to be responsible for the assets in the account on behalf of the beneficiaries.

Should you use a living trust if you die?

The main advantage of using a living trust is avoiding probate court, which means your beneficiaries can access the assets as soon as you die. Helpful hint: The assets in a trust account can still gain value, such as rental income from properties or capital gains from money market investment accounts.

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