A trust that may be altered or terminated during the grantor's lifetime. Since the trust may be altered at any time until the grantor's death, it is considered part of the grantor's estate and is subject to taxation. The property is passed on to the beneficiaries only after the grantor's death, and the revocable trust then becomes irrevocable.
Related information about revocable trust:
- Revocable Trust Definition | Investopedia
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 ...
- Revocable vs. Irrevocable Trusts - Wills & Estate Planning - About.com
When it comes to understanding trusts, knowing the difference between revocable and irrevocable trusts is crucial. If you ask for a revocable trust and get an ...
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Nov 19, 2007 ... Popular personal finance author and TV personality Suze Orman believes these trusts are far superior to wills as estate-planning tools.
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Definition of revocable trust: A trust that may be altered or terminated during the grantor's lifetime. Since the trust may be altered at any time until the grantor's ...
- Revocable versus Irrevocable Trusts - For Dummies
With a revocable trust, however, you can place property into the trust and at some ... However, you still own property that you place into a revocable trust, and ...
- Trust law - Wikipedia, the free encyclopedia
In contrast to a revocable trust, an irrevocable trust is one in which the terms of the trust cannot be amended or revised until the terms or purposes of the trust ...
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The revocable, or “living,” trust is often promoted as a means of avoiding probate and saving taxes at death. The revocable trust has certain advantages over a ...
- Revocable Trust Accounts - FDIC
Aug 24, 2011 ... This section explains FDIC insurance coverage for revocable trust accounts, and is not intended as estate planning advice or guidance.