What is trust implementation?
A trust is a legal document that governs the investment, administration and distribution of assets. The document can be customized to fit a person’s situation and wishes. A trustee is the person or institution responsible for following the directions set forth in the trust document. What are the advantages and disadvantages of having a revocable trust? Advantages: You retain control over your assets. If you are not your own trustee, you observe the trustee in action handling your assets. You avoid probate and the trust can be used to avoid an ancillary probate of property in another state. You avoid the attendant publicity of probate. You will probably save your probate estate a substantial amount of fees and court costs. You can provide for uninterrupted management of your assets in case of your incapacity. You can avoid interruption of asset management when disability occurs or at death. It’s a good way to pass property to charity and save taxes at death. You can change your mind at
