| A living trust is similar to a will, except it allows your family and loved ones to
completely avoid formal procedures to transfer your property (including the
court probate process, where applicable, which can be long, slow and expensive,
draining the estate of funds.) The general principle in estate planning is that anything a person owns at death must go through court procedures before it is given to one's heirs.
In a living trust, the property is technically no longer owned by the person outright, avoiding the court process requirement. The person or married couple has complete control to do whatever they want to with the trust property, to buy, sell, give away, etc. They can name the person(s)who the property will be given to after they pass away.
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