What is the definition of a revocable trust?

Answer A revocable trust is a trust account that can be controlled by the owner (trustor), but upon the death of the owner it becomes irrevocable (unable to be changed) and passes to one or more beneficia... Read More »

Top Q&A For: What is the definition of a revocable trust

Can a revocable trust to be transferred to your spouse's revocable trust after your death?

Yes, you may name your spouse's revocable trust as the beneficiary of your revocable trust in your declaration of trust document. Another option would be to establish a joint trust, which may be st... Read More »

What is a revocable trust?

A trust is a written agreement naming one person to be responsible for managing the property for the benefit of another person. A revocable trust, sometimes called a living trust, is capable of bei... Read More »

What Goes Into a Will for Revocable Trust?

A will that funds a revocable trust is commonly known as a "pour-over will." A pour-over will is a very useful document that funds an existing revocable trust with all of the assets of the deceased... Read More »

Do I need a revocable trust?

The main benefit of a revocable trust is that unlike a will, the assets of the trust are immediately available to the beneficiaries upon your death. Revocable trusts avoid the costs and delays of p... Read More »