What is a revocable living trust?

A revocable living trust is an estate planning tool used to manage and distribute your assets upon your death. It is a legal document that allows you to designate someone to manage your assets, keep them safe, and distribute them according to your wishes. It is a very flexible tool, as you can change or revoke it at any time. In Kansas, a revocable living trust is created when you, the grantor, create a document that names a trustee who will manage the trust. The trustee will act as the fiduciary of the trust, taking care of the assets, making investments, paying taxes, and distributing the assets according to the terms of the revocable trust. Once the trust is set up, you can transfer your assets into the trust. The assets in the trust will not go through probate court and can be distributed according to your wishes quickly and without having to go through a lengthy legal process. A revocable living trust provides an effective way to manage and distribute your assets after you pass away, ensuring that your wishes are fulfilled. It also offers the grantor control over the trust and the ability to change the terms of the trust as needed.

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What is a revocable living trust?

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