To start with, what is a "living trust"? Basically, it's a legal entity that you could move your assets into for a number of reasons, including to avoid probate after you pass away. Also, if desired, the assets within your guardian & custodian could be controlled by another individual. The person establishing the trust is called the settlor or the trustor, and the one who can control the trust is the trustee. A third person may be involved, the…See More