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Hereby is used in connection with what is present with the speaker or what the speaker has just mentioned or the speaker's present words (i.e. the present document); thereby is used in connection with what is at a distance from the speaker or what has been mentioned by the speaker or by someone else.
The Pros and Cons of a Living Trust. THE use of a revocable living trust is often touted as a way to avoid the time and expense of probate -- and, by some, as a way to lower taxes -- when leaving a house and other property to heirs.