How Does the Trust Get Funded?

A living trust functions while the grantor is still alive. In a revocable trust, the grantor (or owner of the assets) can amend the trust's provisions or terminate it at any time. A legal document can be used to establish a living trust, which includes instructions on the following: (1) Who do you wish to leave your assets to (subsequent beneficiaries) (2) Who will manage your assets (3) How they will be managed and distributed if you become unable to handle them (alternate trustees)

What Happens To Your Assets After You Die?

After you die, your co-trustee or successor trustee will execute your trust's instructions, distributing and managing your assets to benefit the named beneficiaries. People and organizations—such as family members, friends, religious organizations, and educational institutions—can benefit from a living trust.

What Are Revocable Living Trusts For?