What is the not dead equivalent to an estate?

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kiwifarms.net
Joined
Dec 7, 2020
An estate is what owns your property when you die. Is there a legal entity that is just like an estate but can be used to own property while you are still alive and not yet dead? Maybe a living trust, but then what is a trust? If so, is a trust what an estate is equal to when you die?
 

Bad Take Crucifier

It was the most unholy thing I had ever seen
kiwifarms.net
Joined
Jun 12, 2020
No. I'm just working on a project where I need to have an entity owned by another entity that's like a human but not a human and not a corporation.
A trust is probably what you want, then. Get a really good lawyer who actually does their job to put it together based on your exact needs, and don't get charged $1,000 for some bullshit copy-pasted legal template by some shyster.

There are a lot of horror stories where trusts are created and the money is legally stolen by the bank or lawyers. Usually, the original creator either dies or is incapacitated, and because the trust was written badly, no family or associates can access the trust. That shit ends up going to the bank. Whoever the trust is for, make sure they have a way to get out of it if there's ever a problem with the bank or the lawyers. In courts, trusts are legally ironclad so if you fuck it up you can never get it back,
 

stares at error messages

kiwifarms.net
Joined
Dec 7, 2020
A trust is probably what you want, then. Get a really good lawyer who actually does their job to put it together based on your exact needs, and don't get charged $1,000 for some bullshit copy-pasted legal template by some shyster.

There are a lot of horror stories where trusts are created and the money is legally stolen by the bank or lawyers. Usually, the original creator either dies or is incapacitated, and because the trust was written badly, no family or associates can access the trust. That shit ends up going to the bank. Whoever the trust is for, make sure they have a way to get out of it if there's ever a problem with the bank or the lawyers. In courts, trusts are legally ironclad so if you fuck it up you can never get it back,
That's very helpful. Great, now I know what to look out for. Thanks.