THINGS TO DO BEFORE DYING

The only difference between dying and living is that when one is alive you tend to do things one at a time but when the time comes for you to die you do things all at one time. So the best thing is for you to take care of everything while well and in good health. One of the concerns when someone dies is the division of assets by the surviving dependents and beneficiaries. The division alone of assets can cause great family problems and so to prevent such from happening a Trust have to be created. A Trust is a well recognized type of legal entity which is used to hold legal titles of properties for the benefit of one or more persons. The person who makes the Trust is called the Trust Creator or Grantor and the person or the institution holding the Trust is called the Trustee. The property that is transferred or included in the Trust is termed as the Trust Estate. Likewise, the recipients of the Trust are called the beneficiaries.

The Trust Estate includes all the property as well as the rights and obligations that are transferred to the Trust. The Trust Estate is administered in agreement to the terms and conditions of the document creating the Trust. The Trust agreement or the declaration of Trust refers to the written documents that provide the terms and condition of the Trusts. The Trust agreement or declaration of Trust either of an individual or married couples includes the statement of the intention of the Trust. Also included are the names of the Trust creator