Maine Living Trust Forms
Download the Maine Living Trust in order to set aside certain assets and property that you choose as grantor, to be held in trust until the assets and property are distributed in the way in which you specified in the trust document. A trust provides continuity of asset management, in that it is created during the life of the grantor and can exist until after a grantor dies. A trust is also flexible, in that you can put provisions in the trust that specify restrictions on the time of distribution and the ways in which assets can be spent. A trustee you appoint is in charge of making sure the provisions are faithfully carried out.
Revocable vs. Irrevocable: An irrevocable trust is not meant to be revoked or changed during the life of the grantor. If it is, the grantor can incur tax or other consequences. A revocable trust is a trust which may be revoked or changed during the life of the grantor.