(REV uh cuh b'l) Trust that grantor may change or revoke.
A trust that can be altered or terminated by the grantor (the person who established it).
A trust that can be changed or terminated during the grantor's lifetime.
The provisions of this type of trust can be altered, amended, revoked, or terminated by the grantor as many times as desired during the grantor's lifetime.
A trust whose terms and provisions can be changed, modified, altered, amended, or revoked. The power to do all this is usually reserved by the person who created the trust, (the grantor, settlor or trustor) but sometimes the power may be given by the creator to a second person. The revocable trust is popular as a means of avoiding probate and as a substitute for a will. The revocable trust is often used for elderly people to protect themselves and their assets from the expense and delays of conservatorship.
a living trust created by a written agreement between the person setting up the Trust and the person chosen to manage the assets in the Trust
an agreement providing transfer of property to heirs who may be terminated by the person creating the trust at any time
an arrangement by which you transfer ownership of your assets to another entity, called a trust
an inter vivos trust whereby the grantor retains the power to revoke the trust and reacquire the trust property
a popular alternative to the traditional will, but in Washington, wills are generally used because of the streamlined probate system
a technique a that can be used for administration of assets, both during the grantor's lifetime and after death
a trust that can be amended and revoked, by the grantor who established the trust
a trust that can be amended or revoked by the trustor after it is created
a trust that the trustor can amend or terminate
a trust that you can cancel
a trust which can under State law be revoked by the grantor
A trust that can be changed after it is established. Assets can be added or removed from the corpus of the trust, the beneficiary(ies) can be changed, and other changes including termination of the trust, are allowed.
a trust allowing you to change the terms over a period of time
A trust which may be amended or terminated by the grantor or by another person; opposite of an irrevocable trust.
A trust that can be altered, amended, terminated, or revoked during the grantor's lifetime with all property being recovered by the grantor.
A trust that, once having been created by the grantor, can be revoked by the grantor.
A trust plan that gives the grantor the power to alter the trust terms or revoke the trust.
An inter vivos trust that is subject to amendment or revocation by the grantor or settlor. Primarily used to avoid probate upon the grantor's death, guardianship and conservatorship actions during the grantor's lifetime, and to maintain the grantor's privacy both during the grantor's lifetime and upon the grantor's death. Usually contains the same provisions as a will for the disposition of the grantor's estate upon the grantor's death.
A trust that can be revoked at any point in time, while the grantor and trustee is alive. Revocable trusts are designed to avoid probate. Some also help reduce estate taxes, while others set up long-term property management. (Source www.nolo.com)
An agreement that gives income-producing property to an heir and that may be altered as often as the creator pleases. The entire trust can even be canceled or revoked.
A legal document that may be changed or cancelled that allows you to maintain control of and use your assets. It is used to avoid probate court and for estate planning purposes.
The grantor retains the right to all trust income, an unlimited right to withdraw property from the trust and a right to terminate the trust if he or she chooses. Because the grantor maintains these rights, he or she is taxed on trust income; no gift has been made for gift tax purposes, and the property will still be included in the grantor's estate for estate tax purposes.
A trust that may altered as many times as desired in which income-producing property passes directly to the beneficiaries at the time of the grantor's death. Since the arrangement can be altered at any time, the assets are considered part of the grantor's estate and they are taxed as such.
A trust that can be amended or terminated by its creator. As opposed to an irrevocable trust, a revocable trust generally has no immediate tax consequences.
A living trust t the creator of the trust may amend or end (revoke). See living trust and trust.
A trust in which the person setting it up retains the power to change (revoke) or cancel the trust during his/her lifetime. Opposite of irrevocable trust.
A trust that may be changed or canceled by its grantor or by another person. Does not avoid estate taxes as an irrevocable trust does.
a trust which you retain the right to amend or revoke at any time. Compare to "Irrevocable Trust." Settlor -- same as Grantor.
A trust which may be revoked, withdrawn or cancelled by the grantor(s). A revocable trust may be commonly referred to as a "living trust."
you retain the right to amend or revoke your trust at any time.
A trust that can be amended, modified, or terminated by the donor or other(s) designated by him/her and which is generally not eligible for an income-tax charitable deduction.
A trust which may be terminated by the settlor or by another person; opposed to an irrevocable trust.
A trust in which the grantor retains the right to revoke, and reclaim property that had been placed in the trust.
A trust that the grantor may change or revoke.
A trust in which a Trustor reserves the right to revoke or change its provisions.
A trust in which the creator reserves the right to modify or terminate the trust.
A trust in which the grantor reserves to himself the right to revoke. The provisions of such a trust may be altered as many times as the grantor pleases, or the entire trust agreement can be canceled, unlike irrevocable trusts. The grantor may receive income from the assets, but the property passes directly to the beneficiaries at the grantor's death, without having to go through probate court proceedings. Since the grantor retains the right to change or revoke the trust, these assets are considered part of the grantor's estate at time of death and will not escape estate taxes. This kind of trust differs from an irrevocable trust, which permanently transfers assets from the estate during the grantor's lifetime and, therefore, escapes estate tax.
A trust in which the donor retains income rights, as well as the right to terminate the trust and recover the property. Such trusts will eliminate probate costs and may also qualify for estate tax marital deduction.
A trust in which a Grantor reserves the right to revoke or change. To protect the final wishes of the Grantor, a trust can become irrevocable upon the death of the Grantor.
A Trust that can be changed by the trust maker at any time prior to their death or mental incapacity.
A trust in which the grantor of property to the trust can take the property back.
A type of trust that either may be changed or terminated by the grantor during his or her lifetime.
trust that can be altered, amended or revoked. Typically, the power to revoke is reserved by the grantor, but it may be granted to other persons.
A revocable trust or "living" trust is a trust designed to dispose of the decedent's assets at the decedent's death in order to avoid the probate process. It is a very effective will substitute and particularly useful in jurisdictions that have a complicated and burdensome probate process, such as Maryland and Virginia.
a trust where a designated person is given the power to change or revoke the document
Opposite of irrevocable trust; a trust in which the person setting it up retains the power to change or cancel (revoke) the trust during his or her lifetime.
A type of trust that can be terminated by the settlor (the opposite of an irrevocable trust).
A trust in which the person setting up the trust retains the power to cancel, alter, or change the terms of the trust.
A trust in which the maker or settlor reserves to himself or herself the right to revoke the trust.
A trust whereby provisions can be altered or cancelled dependent on the grantor. During the life of the trust, income earned is distributed to the grantor, and only after death does property transfer to the beneficiaries.
trust that can be terminated or revoked by its creator.