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Living Trusts, or inter vivos trusts, cover arrangements made during a person’s lifetime to hold assets for beneficiaries. A solicitor drafts the trust deed, advises on funding the trust with assets, and sets out the powers and duties of trustees, including who can manage the trust and when benefits are paid. They assist with ongoing administration, tax considerations, and potential implied debts or claims against the trust. If the settlor becomes unable to manage affairs, they guide succession and lifetime succession planning within the trust structure.
