What a revocable living trust is
A revocable living trust is created during your lifetime. You can generally change it or revoke it while you are alive and have capacity. Many people serve as their own trustee, keep using their assets as before, and name a successor trustee to take over if they die or can no longer manage their affairs.
Assets that have been transferred into the trust can usually pass to beneficiaries without going through probate. Assets left outside the trust are not controlled by it — which is why funding matters.
Who it is generally used by
- Individuals and married couples who want a written plan for who receives their property
- People who want to name someone to manage their assets if they become unable to
- Homeowners and others who want assets held in the trust to avoid probate
We plan to support individual and joint (married couple) arrangements, subject to product and state review.
What the package will include
Package contents are being finalized. Before any package is offered, this page will list every document it includes. Related documents — such as a pour-over will, power of attorney, health care directive, certificate of trust or deed — are included only if they are listed here.
What we do not do
- Give legal or tax advice about your situation
- Act as your trustee
- Transfer, retitle or record your assets for you
- Sign, witness or notarize documents for you
How it is designed to work Planned
- Check availability for your state.
- Answer a guided questionnaire about your trustee, successor trustee and beneficiaries.
- Review your documents before signing.
- Sign following your state’s requirements, using our written instructions.
- Fund the trust by transferring your assets.
State availability
This service is not yet available in any state. Send an inquiry from your state and we’ll let you know when it is.
Questions
Can I change a revocable trust later?
Generally, yes — while you are alive and have capacity, you can amend or revoke it by following the method the trust document and your state’s law require.
Does a revocable trust reduce taxes?
Generally, no. While you are alive, the assets are typically treated as yours for income tax purposes. For tax questions about your situation, ask a tax professional.
Do I still need to move my assets?
Yes. Signing the trust does not move anything into it. See Funding Your Trust.