Glossary - Continuing Trust

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Continuing Trust

A continuing trust is one that lasts beyond the life of the person who created it. Therefore, the assets of the trust are not distributed immediately upon the death of the person establishing it, but rather they are distributed at some later point that is usually set out in the establishing documentation. For example, a continuing trust document might set out that instead of the beneficiaries gaining access to the trust assets immediately upon the death of the person who set up the trust, the beneficiaries will gain access when they turn 25 or graduate college, whichever comes first.