What is a revocable living trust?

What is a revocable living trust?

Home ยป What is a revocable living trust?

A revocable living trust can serve as an alternative to a Last Will And Testament. A revocable living trust may say the same thing as you would or ordinarily say in a Last Will And Testament like, "What happens to your assets after you've passed away? Who's in charge of those assets? Who's going to inherit those assets?" It can say the same thing as what a will would say but it has the additional benefit if you have done it correctly of avoiding probate. Revocable living trust can be used after you've passed away but it can also be used to help you if you have lost capacity during your life time because it still has those assets under control with a person that you've appointed to handle those assets for you.