What is a living trust in Spanish?
A living trust, known as “fideicomiso vital” in Spanish, is a legal arrangement that allows an individual to transfer assets into a trust during their lifetime. This type of trust is designed to manage and protect assets for the benefit of the trustor, their beneficiaries, or both. In essence, a living trust serves as a vehicle to distribute assets in a manner that is more efficient and flexible than traditional estate planning methods. In this article, we will explore the concept of a living trust, its benefits, and how it differs from other types of trusts in Spanish-speaking countries.
In the following paragraphs, we will delve into the key aspects of a living trust, including its structure, advantages, and legal implications. By understanding the fundamentals of a fideicomiso vital, individuals can make informed decisions about their estate planning and asset management.
