Revocable Trust

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DEFINITION of 'Revocable Trust'

A trust whereby provisions can be altered or canceled dependent on the grantor. During the life of the trust, income earned is distributed to the grantor, and only after death does property transfer to the beneficiaries.

Also referred to as a "revocable living trust".

INVESTOPEDIA EXPLAINS 'Revocable Trust'

This type of agreement provides flexibility and income to the living grantor; he or she is able to adjust the provisions of the trust and earn income, all the while knowing that the estate will be transferred upon death.

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    In the process of estate planning, one of the key decisions to be made is between establishing a revocable trust or a will. ... Read Full Answer >>
  3. What are the keys to setting up a trust fund?

    A trust is a good way to ensure that your assets are used in a way you desire, by the persons you want to have them, and ... Read Full Answer >>
  4. What is the difference between the death benefit and cash value of an insurance policy?

    One of the most utilized tools in funding an estate plan is term or permanent life insurance. Purchasing a life insurance ... Read Full Answer >>
  5. What does U.S. law say about contingent beneficiaries?

    In the United States, posthumous asset transfers only require the listing of a primary beneficiary. Contingent beneficiaries ... Read Full Answer >>
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