Home » Living (Revocable) Trusts

What Happens After Your Death?

21 September 2017 No Comment

When you die, the person you named as successor trustee (your spouse, child or other close family member), takes charge of the trust, pays any debts, and distributes the remaining assets the way your living trust document says. Your trust may create new trusts, e.g., for the benefit of your children, your special needs child, or your elderly mother and/or father. Assets may be distributed outright to named beneficiaries in the form of money, real estate, cars, personal items, shares of stock, or the like, or they may be sold and the proceeds distributed. It is really no different than what happens with a will, other than that the probate court is not involved and that only the successor trustee and the beneficiaries are aware of the estate details.

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