Nevada Living Trust Forms
Download the Nevada Living Trust formwhich can be used to put assets or property aside in a separate entity for the benefit of those you choose. The person creating the trust is called the grantor. Those benefitting from the trust are called the beneficiaries. The person in charge of the trust’s funds is called the trustee. The trustee is obligated to manage the trust for the benefit of the beneficiaries. A trust allows a grantor to be flexible in that he or she can designate how and when the funds of the trust are distributed to the beneficiaries.
Revocable vs. Irrevocable: A revocable trust can be changed or modified by the grantor during his or her life, but it becomes irrevocable after the grantor’s death. An irrevocable trust is not meant ot be modified or terminated at any time without incurring possible tax or other penalties.