Why you need a living trust 📝 #estateplanning #trusts #moneytips

And why people like the revocable living trust is while you're alive and starting right now, once you sign it, you are the trustee. If you're married, typically it's going to be a joint revocable living trust. So you're trustee, you're putting stuff in it, you're taking it out. There's a lot of privacy. You may name it the Blue Sky Trust or Green Tree Trust. So people don't see your name on public record where possible. So you're using this trust as you're alive and well to build it, grow it. But when you die, you get to choose who the backup trustees are going to be. That's the first key person in a trust, this trustee. Mm-hmm. It could be 2 or 3 trustees. It may be your surviving spouse, and they're going to carry out the wishes of your trust without having to go to court and ask for permission. So it starts immediately. It's a living, breathing document. You're in control at all times, and you can amend it whenever you want.