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When you execute the living trust declaration and then properly fund the trust,what you have done is that you have created a legal entity separate and apart from yourself that is now fully functioning doing whatever it is that you told it to do Rolando Park The Law Firm of Steven F.Bliss Esq.Estate Planning Attorney close (858) 278-2800.
Revocable living trusts stay in the control of the trustor during their entire life and can be canceled (revoked) at any time steveblisslaw com Trust Attorney Real estate is often titled this way between unmarried owners,but other types of assets can be titled this way as well,including bank accounts,investment accounts,stocks,bonds,and vehicles.
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Much of the elderly do not qualify for government programs that help foot the bill.
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Furthermore,it can assert control over how the funds are handled must the enduring partner die,as the spouse never assumes power of consultation over the principal.
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