What is a revocable living trust?

A revocable living trust is an estate planning tool commonly used in Florida. It is an agreement between the person who creates the trust (the grantor) and the person who manages the trust (the trustee). The trust holds the grantor’s assets and the trustee has control over the assets as long as the grantor is alive. The grantor can revoke the trust at any time and take back control of the assets. A revocable living trust has several benefits. It allows the grantor to transfer ownership of assets without having to go through probate court. This saves time and money and also helps protect the grantor’s privacy. It also allows the grantor to specify how assets should be distributed upon their death, without requiring the assets to pass through the probate process first. A revocable living trust also provides more flexibility than a will when it comes to distributing assets. For example, with a revocable living trust, the grantor can specify how assets should be distributed at different stages of their life, rather than having to wait until death. They can also specify how assets should be distributed to beneficiaries over time, which can help protect assets from creditors. Overall, a revocable living trust can be a useful estate planning tool for those in Florida. It can provide the grantor with more control over their assets and help them ensure that their wishes are carried out after they are gone.

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What is a revocable living trust?

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