What’s the difference between a Living Trust and a Revocable Trust?
The answer is simple. There is no difference. My opinion is that lawyers coined the name “Living” trusts because “Revocable” was too confusing to most people. The term living implies before death, so it is easier for people to understand. A “Revocable” trust is a standard trust that allows the creators to change or revoke it during their lifetime(s). One final twist is that all Living/Revocable trusts become irrevocable upon the creator’s death, locking in the creators wishes and instructions.
Still confused? Send me a request for a complimentary copy of my book “Estate Planning in California” to help you further understand the terms and documents used in estate planning. Click here to request a complimentary copy of my book.
