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Quick Fact
A revocable living trust is similar to a will in several ways. You can transfer property to your beneficiaries after death through a living trust. You can also name alternate beneficiaries in a living trust in the event your primary beneficiaries predecease you. Unlike a will, however, assets in a living trust bypass the probate process and generally pass to your beneficiaries without delay. Living trusts can be a valuable part of an estate plan, but living trusts are not for everyone. So get all the details and consider your specific needs and the alternatives before establishing one.

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