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A living trust is a legal document that allows you to transfer your assets into a trust during your lifetime. The trust is managed by a trustee, who is responsible for distributing the assets to your beneficiaries according to your wishes.
A living trust can help you avoid probate, which can be a lengthy and expensive process. It also provides more privacy than a will, which becomes a matter of public record after your death. Additionally, a living trust can be used to protect assets from creditors and provide for minor or disabled beneficiaries.