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A revocable living trust is a popular estate planning tool that lets you control how your property is handled during your life and after death. It also helps avoid probate and transfers your property quickly and privately.
The trust is a legal document that partially replaces a will. You transfer assets, such as your house, bank accounts, or stocks, into the trust’s name. A trustee, usually you or someone you have confidence in, manages the property for the benefit of you or your family. It’s called a living trust because it’s created when you are alive. And since it’s revocable, you can change or cancel the trust at any time before your death.
Sources: https://estate.findlaw.com/trusts/revocable-living-trust.html
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