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Abstract

Revocable trusts go by several names – living trusts, inter vivos trusts, revocable trusts, grantor trusts – but regardless of name, the trusts bearing any of the names are basically the same, although such trusts should be read with care because the language used in the trust may affect the ultimate disposition of the property held in the trust. With such a trust, the grantor creates the trust by executing a trust agreement and ordinarily funds the trust by transferring property to the trust during the life of the grantor.

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