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What is a living trust in Kentucky?

The Kentucky revocable living trust is a legal form used to hold assets and prevent probate when distributing those assets to Beneficiaries after the Grantor (creator) dies. Bypassing probate means avoiding a lengthy court process often accompanied by large legal fees.

How does a trust work?

A Trust puts your assets under the control of a board of trustees who can act in your place for your beneficiaries once youve passed away: This allows for financial security for your loved ones in the event of your death (or even absence or incapacity because of illness).

What is a living trust in Kentucky?

The Kentucky revocable living trust is a legal form used to hold assets and prevent probate when distributing those assets to Beneficiaries after the Grantor (creator) dies. Bypassing probate means avoiding a lengthy court process often accompanied by large legal fees.

Where is the best place to set up a trust?

Which state is best for your trust situs for your trust? According to independent rankings, the top states with the best trust laws are South Dakota trust law and Nevada in the US.

How does a trust work in Kentucky?

A Kentucky living trust can be created by anyone over age 18 of sound mind, called the settlor. The settlor decides what assets to place in the trust and names a trustee who will manage the assets. Anyone can be a trustee, but it is common to name yourself, with a successor trustee in place to step in after your death.

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