Revocable Living Trust

What Does Revocable Living Trust Mean?

A revocable living trust is a trust that allows the grantor to make changes or amendments to it during their lifetime.

In the context of insurance, revocable living trusts are commonly used as an estate planning tool, often in conjunction with life insurance, to ensure financial support for the beneficiaries after the grantor’s death.

Insuranceopedia Explains Revocable Living Trust

The benefit of setting up a revocable living trust is that it allows beneficiaries to bypass the probate process after the grantor’s death. This can help preserve the value of the assets being passed on, as it eliminates the time and expenses typically associated with probate.