A living trust allows you to allocate your assets to your beneficiaries after your death without it having to go through probate. This is because the trust legally owns your assets, not you, so there’s nothing for the probate courts to administer. With a living trust, you can be your own trustee, and you have full control over the assets in the trust. Though a living trust helps you avoid estate taxes after your death, it is not exempt from income taxes. Below are the Avvo guides that provide all the information you need on living trusts.