Revocable Living Trusts
A revocable living trust is a similar mechanism to a Will, allowing the Grantor to leave property to the beneficiaries of his or her choice, while also avoiding probate. Revocable living trusts are flexible documents that can be changed or revoked during the Grantor's lifetime. The Grantor may also add property to the trust while they are alive. When the Grantor passes, the successor Trustee simply obtains and transfers the trust property to the Grantor's designated beneficiaries. For these reasons and many others, revocable living trusts are one of the most popular tools used today by estate planners.