What is a Revocable Living Trust?
A Revocable Living Trust, also known as a “Living Trust” or “Revocable Trust,” is a flexible estate planning document that allows you to manage your assets during your lifetime and specify how those assets should be managed or distributed after your death. This is the type of trust included in our Trust-Based Estate Plan.
Irrevocable Trusts are less common in basic estate planning and are generally used for more specific planning purposes. In many cases, people who think they need an Irrevocable Trust are actually looking for a Revocable Trust. For most people, a Revocable Living Trust provides the flexibility they want while allowing them to plan for the management and distribution of their assets.
What is the 'Revocable Living Trust' document?
The “Revocable Living Trust” is the central document in your Trust-Based Estate Plan. It includes instructions for managing and controlling your assets during your lifetime, as well as how your assets should be managed and distributed after your death.
If required by your state, you will need to sign the document, have it witnessed, and have it notarized. Just be sure to read the signing instructions on the first page of your document!
How do I create a 'Revocable Living Trust' document?
After you purchase an Estate Plan, you'll be directed through a questionnaire and answer questions about your estate and your wishes. Your 'Revocable Living Trust' document will be generated from the information you provide in the questionnaire.
How to Access Your 'Revocable Living Trust' Document
You can view, download, or print your 'Revocable Living Trust' directly from your account. Simply click on Documents from the menu on the left-hand side and then select the Legal Documents tab at the top. Scroll down to find the document titled 'Revocable Living Trust' within the list.
How to Edit Your 'Revocable Living Trust' Document
While you cannot directly modify the final 'Revocable Living Trust' document that you see in the Documents tab in your account, you can make changes to the specific sections that you answered in the questionnaire. To edit, click on Documents from the menu on the left-hand side and then select the Summary tab at the top and Edit next to the section that needs to be updated. These adjustments will then be reflected in your 'Revocable Living Trust' document.
If you need help, please don't hesitate to reach out to our friendly Member Support team. We are here to help!