A revocable trust (also known as a living trust) is a trust that can be managed and changed by its creator (or grantor). An irrevocable trust is a trust that cannot be modified after it is created ...

Living trusts can be either revocable or irrevocable and differ in terms of tax treatment and flexibility. Individuals may prefer a living trust to a will because a living trust bypasses the ...

irrevocable ... The type of trust to set up comes down to what you wish to accomplish. As its name suggests, a revocable trust, also called a revocable living trust, gives you the right to make ...

A Testamentary trust is set up in a will and established only after the person's death when the will goes into effect. Living trusts can be either "revocable" or "irrevocable." Revocable trusts ...