Creating a living trust requires:
Choosing what property to include
Choosing a trustee
Deciding on the beneficiaries upon your death (who will get the trust property)
Deciding the terms of the trust, including the timing/manner of distribution
Drafting and signing a trust document
Transferring any property to the trust
Under New Jersey law, witnesses and notarizing the trust document technically aren’t required. Still, these measures can help safeguard against claims that the document isn’t valid.
A trust that is only formed upon your death under your will is called a “testamentary trust.” The terms of a testamentary trust are included in the provisions of your will.