Revocable Trust
/ˈrɛvəˌkoʊvəbl træst/
Definitions
- (n.) A trust arrangement that can be altered or revoked by the settlor during their lifetime.
The settlor created a revocable trust to retain control over the assets until death.
Forms
- revocable trust
Related terms
See also
Commentary
Commonly used in estate planning, revocable trusts provide flexibility but do not shield assets from creditors while the settlor is alive.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.