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Practice Areas > Estate Planning > Revocable Living Trust

When a trust is created during the lifetime of the owner, it is commonly referred to as a living trust. If the trust is created under the terms of a will, it is called a testamentary trust, which becomes effective at the time of death.

A  living trust may be revocable by the trust creator or settlor, Living trusts are commonly used because they may allow assets to pass to heirs without going through the probate process. Avoiding probate can save costs, time and frustration, and because probate records are public and the distribution of property through a turst remains private, a living trust will maintain privacy. A living trust may also be a plan for unforeseen circumstances such as incapacity or disability, by giving discretionary powers to the trustee.