What is a living revokable trust?

A living revocable trust is a legal document created during an individual's lifetime that allows them to manage and distribute their assets while retaining control over them. The grantor can modify or revoke the trust at any time, making it flexible and adaptable to changing circumstances. This type of trust helps avoid probate, ensuring a smoother transition of assets to beneficiaries upon the grantor's death. Additionally, it can provide privacy since the trust's contents do not become public record.