type-behaviors

In C#, how do inferred variables using var behave with respect to memory and lifecycle?

Ok, I've been reading everything I can find on var, and I'm pretty sure I've got a handle on their basic behaviors and type inference. I've always been a big proponent of explicit types, so var makes me a little edgy when I'm reading code. So I have a couple of questions regarding its memory usage and the behavior of a variable declared ...