A revocable living trust is a living trust that can be amended by the person who established the trust himself as long as he is alive. A trust is established to transfer the assets to the beneficiaries after the death of a person.
A person establishing a trust can appoint any legally sound person as a trustee to manage the assets after his death. The benefits of the trust will be transferred to the trustor until he is alive. After the death of the trustor, the trust cannot be revoked and the assets of the trust will be administered as per the will of the deceased person.
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