Revocable Trust

Revocable Trust

Revocable Trust means:
a trust the provisions of which may be altered as many times as the grantor pleases, or the entire trust agreement can be canceled. A revocable trust differs from an irrevocable trust, which permanently transfers assets from the estate during the grantor's lifetime and therefore escapes estate taxes.

Description and Definition of Revocable Trust

A trust that can be changed or terminated at any time by its creator or another person. Revocable Trusts do not provide any income tax savings to the creator.

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