What is a revocable living trust?

A revocable living trust is a trust set up by an individual while they are living to manage their assets. This type of trust allows people to hold and manage their assets while they are alive and well, but also provides for the transfer of those assets when they pass away, without the need for probate court. In Texas, a revocable living trust is created when the grantor (the person setting up the trust) transfers assets they own into the trust. During their lifetime, the grantor has full control over the trust assets and can manage them as they wish. When the grantor passes away, the assets they transferred into the trust are managed by a designated trustee, who distributes the assets to the trust beneficiaries as specified in the trust document. Revocable living trusts are an effective way to manage assets during a person’s lifetime and to ensure that their wishes regarding asset distribution are followed after they pass away. This type of trust can help reduce the amount of time and money spent going through the probate process in Texas.

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What is a revocable living trust?

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