There are several estate planning options for individuals who wish to leave their estate to their family. The option everyone has heard of is the Last Will and Testament.
There is another option, the revocable living trust. This option is gaining popularity because it can potentially avoid probate.
A revocable living trust is an arrangement whereby one person, called the “trustee,” is given responsibility for managing your property. It is a “living” trust because the trust is created while you are still alive.
It’s a “revocable” trust because you will keep the authority to change or revoke/dissolve the trust at any time as ...