What a living trust really is...
it is really just a bucket on paper. A trust is an agreement between the Trustee and the Trustmaker (also called a Settlor or Grantor) whereby the Trustee holds title to the assets for the benefit of the Trustmaker and other named beneficiaries.
A trust is a very flexible document whereby you can control your assets while alive but also control how they are spent after your death. It really is just a bucket though that you carry along while you are alive and if you need an asset, you take whatever you need out of the bucket and as you obtain or purchase an asset, you put it into the bucket. If you become ill, you just hand the bucket off to someone else to take care of he assets. It really is that simple.
To learn more about trusts and how they can benefit you or your client, please contact our Jacksonville and Ponte Vedra Beach law firm of Wood, Atter & Wolf, P.A.
