What do you need to know about revocable living trusts
Published July, 2020
By Betsy Simmons Hannibal, Attorney on nolo.com
A revocable living trust is a popular estate planning tool that you can use to determine who will get your property when you die. Most living trusts are “revocable” because you can change them as your circumstances or wishes change. Revocable living trusts are “living” because you make them during your lifetime. Lawyers sometimes call this “inter vivos.”
Revocable Living Trusts Avoid Probate
Most people use living trusts to avoid probate. Probate is the court-supervised process of wrapping up a person’s estate. Probate can be expensive, time consuming, and is often more of a burden than a help. Property left through a living trust can pass to beneficiaries without probate.
Making a Living Trust: Can You Do It Yourself?
See the do it yourself guide from nolo.com
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