A revocable living trust is a legal document that allows you to transfer ownership of your assets into a trust during your lifetime. The trust is managed by a trustee, who can be yourself or someone else you designate. The trust is “revocable” because you can change or terminate it at any time during your lifetime.

One of the main benefits of a revocable living trust is that it allows your assets to pass to your beneficiaries without going through probate court. This can save time and money and provide greater privacy for your estate. Additionally, a revocable living trust can provide flexibility in managing your assets during your lifetime and can help ensure that your wishes are carried out after your death.