West Virginia Living Trusts
Download a West Virginia Living Trust form which affords an individual a method to plan for the dissemination of his or her assets and property to his or her loved ones or favorite organizations. Why would a someone use a trust? A trust offers continuity. It exists as a separate entity, separate from the person creating the trust, or grantor, so it exists even after the grantor has passed away. A trust is also flexible. The grantor can include specific terms on how the funds are distributed. A trust is also private. A trust includes a trustee who is charged with managing the trust for the benefit of the beneficiaries.
Revocable vs. Irrevocable: A revocable trust may be changed or terminated during the life of the grantor, but it becomes irrevocable after the grantor passes away. An irrevocable trust is not meant to be revoked or changed during the life of the grantor due to certain tax issues that may be involved.