Revocable Living Trust
Definition - What does Revocable Living Trust mean?
A revocable living trust is a trust to which the grantor can make amendments during the course of their life.
In the context of insurance, revocable living trusts are used as an estate planning tool, often in combination with life insurance, to financially provide for the beneficiaries after the grantor dies.
Insuranceopedia explains Revocable Living Trust
The benefit of setting up a revocable living trust is that it allows beneficiaries to avoid dealing with the probate process after the grantor dies. This can help optimize the value of assets that can be passed on.
How Well Do You Know Your Life Insurance?
The more you know about life insurance, the better prepared you are to find the best coverage for you.
Whether you're just starting to look into life insurance coverage or you've carried a policy for years, there's always something to learn.