Who Owns a Trust? Ultimate Guide to Ownership & Control
This comprehensive guide clarifies the often-misunderstood concept of trust ownership, focusing on revocable living trusts (RLTs). We'll demystify legal and beneficial ownership, provide a step-by-step guide to funding your trust, and address potential risks and mitigation strategies. Understanding the Two Sides of Ownership A trust is a legal entity that holds assets separately from your personal ownership. This creates two distinct types of ownership: Legal Ownership: The trust itself is the legal owner of the assets....