Living Trust for a Single Person (AR)

This interactive legal document enables you to generate a Living Trust for a single person. Much like a will, a living trust lets you leave your property to the people you want to inherit it. Also like a will, you can revoke or change your living trust at any time, for any reason, before you die. The big difference is that assets left in trust don't have to go through probate court proceedings at your death. This is because when you create a living trust, you must transfer ownership of the designated property to yourself as "trustee" of the trust. During your lifetime, you still have control over all the property transferred to your living trust and can do what you want with it: sell it, spend it, or give it away. Then, after your death, the person you named to take over as trustee distributes the property to the family and friends you named.

This trust is not designed for use if you wish to address the issues of estate taxes or long-term care. This is a simple trust to help you avoid probate. If your assets exceed the state or federal estate tax exemption amount, or you are concerned about long term care, you should consult an attorney.