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Understanding a revocable living trust

November 20, 2019 - 00:00
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There are a number of estate planning options for people who wish to leave their estates to their heirs. The most common is a will. But another option that is becoming more popular is a revocable living trust. A revocable living trust is an arrangement whereby one person, called a “trustee,” is given responsibility for managing your property. We call it a “living” trust because it is created while you’re still alive. And it’s “revocable” because you retain the power to change or dissolve the trust any time, as long as you have the mental capacity to do so. The real advantage of a ...

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