Revocable Living Trust

Revocable Living Trusts

A Revocable Living Trust, in its simplest sense, is an entity created by an individual (or multiple individuals) during his or her lifetime to hold assets which will be managed by a trustee according to a specific set of rules, directions and terms. As the name suggests, a revocable living trust is revocable or amendable by the grantor (the individual that creates the trust) during his or her lifetime.

Revocable Living Trust Diagram
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