What is a revocable living trust?

A revocable living trust is a legal tool used in Washington state to effectively manage a person’s estate and assets. This type of trust is created when someone (the grantor) entrusts their assets to a trustee. The trustee is responsible for managing the grantor’s assets and distributing them according to the grantor’s wishes. If the grantor becomes incapacitated or dies, the trust will remain intact and the assets will be distributed as specified in the trust. This type of trust can be especially important in disability planning law. A revocable living trust allows for an individual (the grantor) to provide for another person (the beneficiary) without giving up control of their assets while still alive. The grantor can also set conditions that would provide the beneficiary with financial support in the event of the grantor’s death or disability. This type of trust also allows the grantor to avoid the probate process, which can be expensive and time-consuming. In conclusion, a revocable living trust is a powerful tool in Washington state disability planning law. It can provide monetary benefits to a beneficiary in the event of the grantor’s death or disability, while also allowing the grantor to remain in control of their assets while alive. It can also be used to bypass the probate process and can provide a great deal of peace of mind to an individual.

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What is a revocable living trust?

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