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What Is a Revocable Trust?

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

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.
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