BETA - What is a trust? Who create the trust? Are there different kinds of trusts?

What is a trust? Who creates the trust? Are there different kinds of trusts? Trusts are and can be complicated. So the revocable living trust is the trust that I do. That's the only trust I do because the more complex ones, I don't feel that I'm competent to do it. So if a person wants a trust that's complicated, you go to a trust attorney who keeps up on the laws and the changing laws when it comes to trust. So the trust that I do typically, it names a trustee and usually the person creating the trust is the trustee because you're living and you have the capacity and these are your assets. You can use your, you can sell your house if you choose to, even if you are putting that house in trust. These are your assets. It is when you die that the successor trustee whom you need to name is the one that then looks at the provisions of the trust in terms of disposition. How are these things going to be distributed? And then they follow what is in the trust. That's how the beneficiaries of the trust receive whatever the provisions say. I advise people to keep this document same place you're keeping your other estate planning documents. I advise a safe deposit box or at least in a fireproof box that's locked and somebody knows where the key is if you insist on leaving it in your home. Trust cannot live forever. I want to, in law school you learn about the rule of perpetuity. They can't live forever. No one is going to be around forever to administer the trust. So in the trust that I do it will have the provisions of okay I want this one to get my car, this one to get my house, I have five hundred thousand dollars in the bank that I want to split up this way and then I always put a provision at the end of that trust. What if those beneficiaries aren't living? What if somebody dies without ever the you know core of the trust is not used up? There's still money there or still assets. I put a provision in the end if no one is alive, no beneficiaries, then I want the trust assets to go to whomever it is. And a lot of times people will say say it's a couple. I want half of the trust to go to the husband's family, persterpies. Let me throw that in but all that means is the children of the of your children, it goes to its lineal descendants to go to the wife's family, the husband's family because somebody is living and that's how trusts are are are ended, terminated. I was going to say that that's not an official document. That is nowhere in our code that you have to lay out your funeral provisions. But what I'm finding is a lot of long-term care facilities, a lot of I'm on a team that it's or you know there's a lawyer, there's someone who helps with Medicare, there's someone who helps with long-term care like those kinds of teams. And we have a questionnaire for people and it's 15, 16 pages. You put every single thing in there and funeral can go in there. So funeral provisions that is not official. I do it as a courtesy just to help families but you keep that document the same place you keep your other documents. I do talk to people about pre-need. If you are you know you want a funeral in the funeral home go on and get that paid for because you can do that. Put those documents with these other documents you know then everything is right there. If someone dies though without ever expressing wishes about a funeral, that's up to the families.