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The Living Trust is one of the most important estate planning tools available. With a living trust, you can provide for the transfer of your assets to the next generation without the cost and delay of Court probate proceedings What is it? What is a living trust, and how does it work. How is it created? What steps have to be taken to create a living trust, and what documents are involved. Advantages What are the advantages of the living trust Disadvantages In making a decision concerning a living trust, you must also consider the disadvantages