A living trust is a trust is set up by an individual using his or her own property that is active during their lifetime. The person setting up the trust can use the assets and may revoke the trust and put the property back in their own name at any time. If the trust remains in effect at the time of the settlor’s death, the remaining assets will pass from the settlor to the remainder beneficiaries of the trust.
If you have any questions related to trusts in Connecticut, please contact Joseph C. Maya, Esq. at (203) 221-3100 or e-mail him directly at JMaya@Mayalaw.com.