A trust you control during life that passes assets to heirs without probate.
A revocable living trust holds your assets during your lifetime — you can change or revoke it freely — and transfers them to your beneficiaries at death without going through probate, keeping the process private and faster. It does not by itself reduce estate tax. Assets must be retitled into the trust for it to work.
Funding a living trust lets a home pass to heirs without the delay and cost of probate.
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