How a Living Trust Works: A Simple Breakdown
When protecting your family’s future, few estate planning tools are as powerful or misunderstood as the living trust.
You're in the right place if you're new to the concept or wondering whether it's worth creating one. At Russo Law Offices, planning should feel empowering, not overwhelming.
Let’s examine how a living trust works and why more families are choosing this flexible, private alternative to a traditional will.
What Is a Living Trust?
A living trust is a legal arrangement in which you transfer ownership of your assets into a trust during your lifetime. This trust is managed according to your instructions—both while you’re alive and after you’re gone.
Unlike a will, a living trust allows your loved ones to avoid probate and gain quicker access to what you’ve left behind.
Want to dig deeper into probate? Read What Is Probate and Why Do So Many Families Try to Avoid It?
The Key Players in a Living Trust
Understanding a trust starts with knowing the roles involved. Here's who does what:
1. The Trustor
This is the person who creates and funds the trust—you. You can move your home, bank, investment accounts, and more into the trust.
(We go into more detail on this in How to Title Your Assets in a Trust)
2. The Trustee
The trustee is the person who manages the trust. While you're alive, you often name yourself as the initial trustee, giving you full control over the assets.
3. The Successor Trustee
When you pass away or become incapacitated, your successor trustee takes over. This person follows your instructions for distributing assets to your beneficiaries.
Not sure who to choose? We break this down into who you should name as trustee or executor.
4. The Beneficiaries
As outlined in your instructions, these people or organizations inherit the trust assets.
Why Families Choose a Living Trust
A living trust might be your best path forward if you're considering growing your family's financial legacy without stress or delays. Here’s why:
Avoids probate court and delays
Protects your privacy (no public record like with wills)
Prevents court intervention if you become incapacitated
Allows you to set detailed instructions for minor children, special needs family members, or blended families
Learn more about these scenarios in Do I Still Need a Will If I Have a Trust?
Two Locations. One Trusted Team.
Whether you're near Hinsdale or Hoffman Estates, our experienced estate planning attorneys are here to help you take the next step with clarity and care.
We offer services in English and Spanish and welcome you to meet with us in whichever location is most convenient for your family.
📍Hinsdale Office
15 Spinning Wheel Rd., Suite 126
Hinsdale, IL 60521
📍Hoffman Estates Office
2300 N. Barrington Rd., Suite 230
Hoffman Estates, IL 60169
📞 (847) 717-8300
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Your future deserves thoughtful planning.
Let’s build something that protects what matters—now and for generations to come.
Get Started Today: Download our FREE Guide to Writing a Will to learn more about your options and get started with confidence.
*The information provided in this blog post is intended for general informational purposes only and should not be construed as legal advice. Each individual's situation is unique, and the laws regarding estate planning can vary by jurisdiction. It is essential to consult with a qualified estate planning attorney to discuss your specific circumstances and to receive personalized legal advice. Russo Law Offices is not responsible for any actions taken based on the information contained in this post.