Trusts Services in Louisiana with Patricia Breckenridge

A trust is created by a person (settlor) in a legal document (Act of Trust) appointing a person or entity as trustee to receive and distribute, as directed by the settlor, the assets transferred by the settlor into the trust for the benefit of the settlor or for the benefit of another.

A revocable trust for the settlor's benefit as the primary beneficiary is known as a Revocable Living Trust. It can be revoked at any time and becomes irrevocable upon the death of the settlor/primary beneficiary.

An irrevocable trust is an entity created by a settlor during the settlor’s lifetime for the benefit of a third-party beneficiary. It requires the permanent transfer of ownership of an asset or assets to the trust on behalf of the beneficiary.

You can reach me at 504-836-3881.