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Why should a revocable trust be created?

The most common use of a revocable trust is to avoid probate. Property placed in a revocable trust during your lifetime is not subject to probate at your death. The trustee owns the “legal” interest in the estate, and title in the trustee survives the...

What is a revocable trust?

Trusts created after January 1, 2005 that do not provide that the trust is irrevocable may be revoked or amended by the Settlor (creator of the trust). Very few living trusts are made irrevocable. Ideally the trust instrument should specify that the trust is revocable...

What is a trust?

A trust is an arrangement whereby property is held by one party for the benefit of another. The property may be transferred to another person, or the property may continue to be held by the Settlor after declaring it to be held in trust. The person creating the trust...