With a living trust, you keep a higher degree of control and privacy over your assets. If you should ever need a guardian to oversee your affairs, a living trust ensures that that person will be someone you chose and their decisions will be kept private.
A living trust continues to help your estate maintain privacy after death. Yet you maintain the ability to change or terminate it entirely during your lifetime.
What is a living trust?
A trust that you create and that operates during your lifetime is known as a living trust. With a living trust, you specify precisely how your assets are to be managed throughout your life, for your benefit or for the benefit of others you designate.
How is a living trust created?
A living trust is a very personal, very tailored legal agreement that you design with your attorney and Northern Trust. It gives you the resources to manage your assets to their potential. And it relieves you of any financial duties you might consider burdensome.
How does it function?
Your trust can be crafted in any number of ways to accomplish your objectives. For instance, it can be designed to:
Who serves as trustee?
You have nearly unlimited discretion in establishing trust provisions. You can choose to serve as trustee of your assets, naming Northern Trust as your successor in the event of your incapacity, death, or resignation. Or, you can elect Northern as your trustee immediately. Moreover, depending on your arrangement, the trust can be altered or terminated upon your instruction.
If you wish to provide sound management for your assets, but desire the freedom to pursue other interests, consider naming Northern Trust as your trustee. We will administer your assets for your benefit during your lifetime and for the benefit of your beneficiaries thereafter.
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Contact a Northern Trust relationship manager |
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Private Passport for Online Trust and Estate Services |
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