You need to keep it up-to-date and make changes after certain events occur to ensure that your assets will be distributed according to your wishes when you pass.
A revocable trust allows assets correctly transferred into the trust during the grantor's lifetime to bypass probate. This can simplify asset distribution and help preserve privacy.
Revocable trusts are a powerful tool for anyone’s estate planning. Use them to protect your assets during your lifetime, manage taxes and streamline inheritance.
There are many ways to hand down a house—from gifts to outright sales, irrevocable and revocable trusts to wills—each with different benefits and drawbacks.
