BankruptcyBankruptcy
Car TitleCar Title
Chapter 13 BankruptcyChapter 13 Bankruptcy
Chapter 7 BankruptcyChapter 7 Bankruptcy
Community PropertyCommunity Property
ConservatorshipConservatorship
Disability InsuranceDisability Insurance
Estate PlanningEstate Planning
ExecutorExecutor
GuardianshipGuardianship
Inheritance TaxInheritance Tax
Liability InsuranceLiability Insurance
Living TrustLiving Trust
Living WillLiving Will
Post-Divorce Financial RecoveryPost-Divorce Financial Recovery
Postnuptial AgreementPostnuptial Agreement
Power of Attorney (POA)Power of Attorney (POA)
Prenuptial AgreementPrenuptial Agreement
ProbateProbate
TrustTrust
Trust FundTrust Fund
WillWill
Entrepreneurial Finances
Healthcare
Financial Coaching & Mindset
Credit & Creditworthiness
Government Benefits & Programs
Banking & Savings
Real Estate & Homeownership
Insurance & Financial Protection
Taxes
Debt & Loans
Budgeting & Spending
Employment & Income
Legal & Estate Planning
Investments & Retirement
Product1:1 CoachingOur Coaches
For Partners
Resources
Start Here
Product1:1 CoachingOur CoachesOur Story
For Partners
Resources
Start Here

Living Trust

Definition

A legal document that lets you manage your assets during your lifetime and outlines how they should be distributed after your death. It can help avoid probate.

What to consider

  • Consider setting up a trust if you want to simplify asset distribution later.
  • Review its structure as your family and finances evolve.
  • Consult with a professional to ensure it meets your needs.

Real world scenarios

  • Howard creates a living trust, placing assets like his home and investment accounts inside to simplify inheritance for his children.
  • Deb revisits her living trust after her second child is born, updating beneficiaries to reflect new family circumstances.
  • A living trust spares Sonya’s family from the delays and costs of probate when she passes, distributing assets smoothly.

Related terms

Probate
Community Property
Will
Car Title
Power of Attorney (POA)

Related Playbooks

Get instant access to all our expert playbooks and 1-1 financial coaching when you join the Bolder Money community. Learn more here.

Playbooks for this topic are on the way!
Legal & Estate Planning
Got Any Questions?

Talk to a Financial Coach

Book a free consultation with one of our coaches.
Book a Free Call
coaches@boldermoney.com
Linkedin IconInstagram IconTwitter IconFacebook Icon
NEW
Mortgage Payment CalculatorRetirement Planning Calculator
No BS. Just good emails.
Thank you! You are now subscribed!
Oops! Something went wrong while submitting the form.
© 2025, Bolder Money
Terms & Conditions
Privacy Policy