What is a revocable living trust?

A revocable living trust is a legal document that creates a trust during your lifetime. You can usually change it, amend it, revoke it, or restate it while you are alive and have capacity.

Most clients who create a revocable trust continue to control their assets during life. They can buy, sell, spend, invest, and manage assets much like they did before.

The trust also names who takes over when you die or become unable to manage things. That person is usually called the successor trustee.

*Reviewed by Estate Planning Attorney Casey Connealy, Partner at Gaughan & Connealy Estate Planning Attorneys on June 23, 2026.