Should YOU Consider a Living Trust?
Often times you will hear people refer to the terms Inter Vivos Trust and Testamentary trust when they are trying to set up an estate plan. Currently, the trend in estate planning has been to set up an Inter Vivos Trust or a "Living Trust." If you live in the Los Angeles area and are considering estate planning or setting up a trust you should consult with a Los Angeles estate planning lawyer.
When considering your estate plan, you have a variety of options. Particularly, if you are considering drafting a trust. The two most common types of trusts are a Living Trust and a Testamentary Trust. The main difference between the two trusts is the timing of when they are drafted. The Living Trust is drafted during the lifetime of the settlor (person who drafts the trust). A testamentary trust is a trust that is created in the settlor's will and does not take effect until after the settlor dies.