Revocable Living Trust

Revocable Living Trust

by Richard C. Wilson & Family Offices Group Association Team

Family Office Definition: Revocable Living Trust

Revocable Living Trust definition:  A revocable living trust is funded while the trustor is living. Benefits of revocable living trusts are that they are not subject to probate, and the trustor maintains control of the account and is able to make changes while living. When the grantor has ability to revoke the trust or make changes, the trust is usually included in the grantor’s taxable estate.

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