What is a Revocable Living Trust?

​A Revocable Living Trust is an agreement that determines how a person’s property is to be managed and distributed during his or her lifetime and upon death. A “Trust” normally involves three parties: the Settlor or Grantor, the Trustee, and the Beneficiary.

Benefits to having a Revocable Living Trust include:

  • Probate Avoidance
  • Reduction of Estate Tax Planning
  • Management of Distribution Planning

Having a “Trust” prepared is part of a comprehensive estate plan. For a complete overview, read more here.