Revocable Living Trust California | Wills and Trusts | Crider Law Group

Most of us will not think about this but what is a Revocable Trust?

It can be called in other ways like revocable trust, inter vivos trust, or grantor trust is a way of putting it in letters on how your assets, tangible or intangible, will be managed while you are living or you are 6 feet underground.

"Revocable" means you can revoke or amend your trust as long as you are still competent to do so.

Grantor

You are the creator of the trust, also called the trust maker.

Trustee

This is the middleman for the Grantor and the Trust Beneficiary.  This can be a person, an institution, or a business that will manage your assets.

The trustee is responsible for the proper management of all the assets and properties under the trust contract for the sole benefit of the Trust Beneficiary.

Beneficiary

These are the people or groups of people who will benefit from all the assets and properties you have after you die. This can be your children, charity, or individuals who you appoint and put into the trust.