Louisiana Living Trust Forms
Download the Louisiana Living Trust which is a way to make sure your assets and property are distributed to as you wish and to the people you wish. A trust is created during the life of the grantor and it can exist until after the grantor passes a way. Trusts provide continuity of manangement of assets as well as flexibility as to how and when you want your assets distributed. For instance, you can specify that beneficiaries may only receive the assets from the trust when they reach a certain age, or you can designate that the property can only be used to fund certain things, such as education and medical expenses. As grantor, you appoint a person to mange your trust in a fiduciary capacity which means they are obligated to manage the trust in such a way that is in the best interests of the beneficiaries. This peson is called the “trustee”.
Revocable vs. Irrevocable: A revocable trust is a trust which may be revoked or changed during the life of the grantor. It becomes irrevocable when the grantor dies. An irrevocable trust, as the name suggests, is a trust that should not be changed or revoked once it is made without incurring certain tax and other potential consequences.