Living Trusts Attorney In Philadelphia

A living trust, also known as a revocable trust, is a legal arrangement that holds ownership of your assets during your lifetime. As the creator, or grantor, you retain full control of the trust and its assets, allowing you to manage, modify, or revoke it at any time. Upon your passing, the assets in the trust are distributed to your designated beneficiaries according to the terms you set, bypassing the probate process.

When you create a living trust, you transfer ownership of your assets—such as real estate, bank accounts, investments, and personal property—into the trust. Although the trust becomes the legal owner of these assets, you retain full control as the trustee during your lifetime. You will also name a successor trustee to manage the trust after your passing or in the event of your incapacity. This individual or entity will ensure your wishes are carried out, including distributing assets to your beneficiaries. At Vexillum Law, we guide you through every step of the process, from selecting a successor trustee to properly funding your trust to ensure all intended assets are included.