WHAT IS A LIVING TRUST?
A living trust is funded by your assets such as property, bank accounts, stocks, and bond accounts and certificates that are transferred to the trust during your lifetime; upon your death, these assets are distributed quickly and easily to your designated beneficiaries by your chosen representative, called a "successor”.
WHY DO I NEED A LIVING TRUST?
In reality, most people can avoid probate without a living trust. A living trust will also avoid probate because the assets in the trust will go automatically to the beneficiaries named in the trust.