What is a living trust?

A living trust is an important legal document that is used in the field of Elder Law. It is commonly used in states like Kansas to help individuals plan for their future and protect their assets. It is a type of trust created during an individual’s lifetime and is managed according to the instructions that the individual leaves behind. A living trust grants certain powers to the individual who creates it, and the trustee that they appoint. The trustee is typically a relative, friend, or financial advisor, and it is their duty to ensure the trust is handled responsibly and according to the instructions set out by the trust creator. This can include carrying out the trusts creator’s wishes when they are too ill or too elderly to do so themselves. In Kansas, living trusts are an essential part of Elder Law. They allow individuals to plan ahead for their future and ensure their assets are distributed in accordance with their wishes. Living trusts also provide an efficient way to ensure that an individual’s estate is handled in a tax-efficient manner, avoiding probate costs and helping to reduce the amount of tax that must be paid.

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What is a living trust?

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