Vermont Living Trust Forms
Download a Vermont Living Trust Form which provides a method of estate planning by allowing an individual to create a separate entity in order to set aside certain property and assets for the benefit of his or her loved ones. Because the grantor (the person who creates the trust) can include certain terms governing the distribution of assets, such as age requirements, or purpose requirements, a trust is flexible. A trust offers continuity of property management because it continues in existence even after the grantor dies. The grantor can choose a trusted person to be trustee who is charged with carrying out the the trust for the best interest of the beneficiaries.
Revocable vs. Irrevocable: Revocable trusts can be changed or ended during the life of the grantor and the assets in a revocable trust are includable in the grantor’s taxable estate. Irrevocable trusts are not meant to be changed or revoked.