What Is a Revocable Trust?

By Catherine Brock – Updated Dec 10, 2024 at 2:23 PM

Key Points

Revocable trusts allow grantors to retain control and amend terms anytime, ensuring flexibility in asset management.
Assets in a revocable trust bypass the probate process, protecting privacy and simplifying wealth distribution.
Setting up a revocable trust involves creating a trust document, appointing trustees, and transferring asset ownership.

If you're opinionated about who gets your wealth once you're gone, you should know about revocable trusts and how they work. Read on to learn the basics of this popular estate planning tool.

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Two people signing paperwork at a table with a businessperson. — Image source: Getty Images.

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About the Author

Catherine grew up in Southern California wearing a lot of black and trying to perfect the art of sarcasm. Prior to joining The Fool as a contract writer, Catherine was climbing the corporate ladder in marketing roles and dabbling in too many side hustles. When she's not writing, she can be found riding a horse in the country or shopping online for clothes.

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@catherinejbrock

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