Alligator is a genus in the order Crocodilia. There are two living species: the American alligator and the smaller Chinese alligator. Together with the caimans, the gharials, and the crocodiles, they make up the order Crocodilia. The first alligators existed about 37 million years ago.
Or, a Trust is established to benefit the individual who creates the Trust (the Trustor), generally for purposes of avoiding the probate process upon death. The person who benefits from the Trust is called the beneficiary. When a beneficiary passes away, the Trust document will set forth what happens next.
Download article as a PDF. A living trust is a great way to manage your property while saving money on taxes. It also allows you to leave property to your loved ones without having to go through the hassle of probate. However, a living trust is useless unless you transfer assets and property to it.