Revocable Living Trust

Learn about the definition for this legal term.

What is Revocable Living Trust?

A legal entity created to hold ownership of a living individual's assets. The person who forms the trust is called the grantor or trust maker, and in most cases, also serves as the trustee, controlling and managing the assets placed there.

Further Reading

For more detailed information, see our related Wills Trusts And Estates terms:

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