Holds your assets while you’re alive: You transfer ownership of property, investments and other assets into the trust.; Lets someone manage your assets if you become sick or disabled: Your ...

If you live in a community property state, a revocable living trust can help you separate your assets from communal assets. Cons of a Revocable Living TrustCan Be Expensive.

If you are considering a living trust, consult an estate planning attorney to see if it makes sense for your situation. The Motley Fool has a disclosure policy . Related Articles ...

Joint revocable trusts, which are common in community property states like Texas, are the subject of ongoing debate.(Courtesy / Getty Images/iStockphoto) Revocable living trusts are often used as ...

With careful planning, a living trust can be a valuable tool for protecting your assets, providing for your loved ones, and ensuring that your wishes are honored. Stephen J. Lacey, JD, LLM, is a ...

Q. I was told that unlike wills, a trust doesn’t require probate and is not taxable. My main asset is a house that I want to pass on to my son. Would a living trust help? — Planning A. We’re ...

While probate avoidance is often touted as a reason to have a living trust, generally speaking, many people who have living trusts also have what are called “pour over wills,” said Shirley ...

A living trust is a legal document that allows you (the grantor) to put assets into a trust and outline exactly how you want them distributed after you pass away. A will works similarly, but the ...