Trusts & Trust Litigation

Q: Who is the grantor?

A: The grantor is the person establishing a trust.

Q: What is a living trust?

A: A living trust is a trust created during a grantor's lifetime.

Q: How is a revocable living trust defined?

A: A revocable living trust is one with terms which can be changed by the grantor; income from the trust is usually taxable to the grantor; and its assets remain subject to the Grantor's control. Ordinarily, no probate is required to pass the trust's assets to its named beneficiaries.

Q: What is a trust?

A: A trust is a legal entity that holds property for the benefit of others.

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