Download this Ohio Irrevocable Living Trust form which provides a way to set aside assets and property into a separate entity for the benfit of others.  Why create a trust?  A trust provides flexibility in that it can be crafted in such a way to reflect the values and circumstances of the grantor.  A trust is a private document, unlike a will which ends up in prrobate.  A trust is also continuous, in that it continues after the death of the grantor.  The grantor chooses a trusted person or professional fiduciary to manage the trust and make sure the provisions of the trust are carried out.  The trustee must act in the best interests of the beneficiaries.  An irrevocable trust is not meant to be modified or terminated during the life of the grantor.  If it is, the grantor, or the grantor’s estate may incur tax penalties.

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