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TrustsVermont Judiciary Form

TrustsVermont Judiciary Form

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Hi. I’m Reed Bloodworth founding partner of Bloodworth Law. Today I’m going to take a moment to discuss trust litigation. Well the first issue we should address is what is a trust? A trust is a legal creation whose purpose is to hold assets for beneficiaries. A trust is controlled by a trustee. There are many types of trust. Some of the more common types are revocable trust irrevocable trust. Revocable trust means that the grantor the person who is putting the assets into the trust controls the trust and controls those assets for his or her lifetime. An irrevocable trust the grantor puts items into the trust but relinquishes control of those assets and the trustee will manage those assets for however long the trust is designated to last. Trusts are very beneficial in terms of estate planning. Items that are in trusts avoid probate. Probate can be lengthy it can be expensive and trusts are a way that lawyers avoid that process for certain assets. Probate litigation arises in a multi

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