Basic Components of a Living Trust
The high-level structure of a living trust usually consists of the most important points of the declaration of trust in a logical order. Often roman numerals are used for the high-level headings. The basic components of a living trust, that are described in the following chapter, are:
- The Trust Name
- The Trust Property
- Powers of the Grantor
- Trustees
- Beneficiaries
- Distribution of Trust Property
- Trustee’s Power and Duties
- General Provisions
- Certification by Grantor