What is a revocable living trust?

A revocable living trust is a legal document used in California to manage and protect assets for an individual during their life, and to make sure that their wishes are carried out once they pass away. It allows a person to choose who will manage their trust after they die, as well as how and when their assets will be distributed. A revocable living trust is different from a will, because it is able to avoid probate, the court process that must take place before an individual’s assets are distributed. This means that the assets held in the trust will not have to go through the courts. In addition, a living trust can be modified or revoked at any time, meaning that the person creating the trust can change their mind about who will inherit their assets, or how they should be distributed. Furthermore, a revocable living trust can be used to help avoid estate taxes. The assets placed in the trust are generally not subject to taxation, so it is a great way to ensure that the maximum amount of a person’s assets can go to their chosen beneficiaries. Finally, it can help to avoid disputes between family members or potential disagreements about how an estate should be distributed, since the instructions for how to handle the trust are laid out in the trust document.

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What is a revocable living trust?

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