by Florida Baptist Foundation on Jul 7, 2022 7:55:06 PM
How a revocable living trust works during a grantor’s life
A living trust, also known as a Revocable Living Trust or a Family Trust is a legal document that holds title or ownership to your assets and real property. When you create a Revocable Living Trust you transfer ownership of your assets to the trust. Transferring assets is typically called "funding." When you transfer title you DO NOT relinquish any control. You can still buy, sell, borrow or transfer. The Florida Baptist Foundation can serve as Trustee or successor.
How a revocable living trust works upon grantor’s death
After you pass away, your successor trustee or co-trustee will have the same responsibilities an executor would have if you would have prepared a will. However, since your trustee does not have to report to a probate court everything can be done more efficiently and privately.
Contact the Florida Baptist Foundation
The Florida Baptist Foundation is ready and prepared to assist you in establishing a named fund or trust. Please contact us and we will be delighted to assist you immediately.
Comments (1)