What is a living trust account?

Answer A living trust account is a bank account, stock brokerage account or other similar type of financial account that has been created by the trustee of a living trust to hold its money. In everyday li... Read More »

Top Q&A For: What is a living trust account

Can Tax Records Help Find a Living Trust Account?

A living trust is either revocable or irrevocable. Revocable means the owner of the trust can add or remove assets and retains complete control over them during his lifetime. Irrevocable means the ... Read More »

Can You Close a Living Trust Account Anytime?

When you attempt to close a living trust account, you have to contend with both your state's trust laws and also the bank's account closing procedures. A living trust account belongs to the trust e... Read More »

How to Amend a Living Trust or Change a Living Trust?

A living trust protects your assets and settles the question of who will be receiving what part of your assets after you die. Putting assets in trust can also have some tax benefits. A living, or r... Read More »

Is a living trust a testamentary trust?

A living trust is not a testamentary trust. A living trust--also known as an "inter vivos trust"--takes effect in the maker's lifetime. In contrast, a testamentary will go into effect only after th... Read More »