Four Questions Regarding the Revocable Living Trust

A revocable living trust has become an integral part of the process when it comes to estate planning. If you are debating the merits of using such a trust, or you would just like to know a little bit more about them, the following questions should provide you with a basic understanding. 1. Who creates a revocable living trust? The creator of the trust, and the person whose property is usually placed into the trust, is known as the “settlor.” 2. When is the trust created? The settlor creates a revocable living trust while he or she is alive (thus, the name), as opposed to a testamentary trust, which is created within one’s will at the moment of death. 3. Does the settlor have any control over the trust? After the settlor creates the trust, he or she pretty much keeps full ownership and control over the trust’s property. The settlor can revoke or amend the trust at any point after its creation; however, after the settlor dies the trust is irrevocable and cannot be changed under


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