What is a revocable living trust?

A revocable living trust is a type of trust that allows an individual in Kansas to transfer assets and property into the trust. This type of trust is revocable, meaning that the individual creating it is able to make changes to it during their lifetime. The individual creating the trust is known as the grantor, and an appointed trustee will manage the assets in the trust. The assets transferred to the trust are not subject to probate, meaning that when the grantor passes away, the assets will be distributed from the trust according to the wishes of the grantor. The grantor is also able to decide who will receive the assets after they die, allowing for the individual to choose who they want the assets to go to. They can also set up guidelines for how and when the assets are to be distributed. The biggest benefit of a revocable living trust is that it allows the grantor to keep their assets out of probate. This eliminates legal costs and makes it easier for the individual to ensure that their assets go to the people they have chosen after they pass away. This trust also allows for the grantor to have some control over how the assets are distributed, even after their death.

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