Revocable or Living Trusts are a contractual agreement made by an individual or a couple generally for the management of their assets during their lifetime and the use or distribution of those assets at the end of their life.
Even modest estates can benefit from a revocable trust. A trust can simplify both the management of the estate during periods of incapacity and the transfer of assets after death. If necessary or desirable your control over the use of the assets can be extended well beyond your lifetime, protecting and providing for your loved ones even when you are gone.
An attorney can explain trusts in more depth and explore whether a trust may be the right tool for your Life and Estate Plan.