What is a revocable trust?

A revocable trust is a type of trust that can be set up in California. It’s a legal agreement between a Trustor (the person setting up the trust) and a Trustee (the person who’s responsible for managing the trust). The Trustor has control over the trust and can make changes to it as they wish. The assets in the trust are managed by the Trustee. A revocable trust is an important tool in estate planning. It can help manage the assets of an individual and protect them from creditors, lawsuits, and unnecessary taxation. It also helps the Trustor to pass their assets on to their heirs without going through the probate process. The Trustor can appoint a successor Trustee to manage the trust after their death. A revocable trust is often used in combination with a last will and testament. It can make the process of distributing assets to the heirs easier, faster, and less costly than going through the probate process. The trust also offers more privacy since it doesn’t become public record like wills do. In California, revocable trusts are regulated by the California Probate Code. Anyone looking to set up a trust should speak to an experienced attorney who can provide advice and guidance.

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What is a revocable trust?

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