Yes, a person can have multiple living trusts, but there are important considerations to keep in mind. It's essential to ensure that each trust is clearly defined in terms of its purpose and assets to avoid confusion and potential legal issues. Additionally, maintaining accurate records and coordinating between trusts is crucial to ensure that they do not conflict with each other, which could complicate the management of assets and the distribution upon death. Consulting with an estate planning attorney is advisable to navigate these complexities effectively.
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