Question 1

What is a revocable trust?

Accepted Answer

A revocable trust is a legal document that holds your assets during your lifetime. You remain the trustee and keep full control. After death, assets transfer to your beneficiaries without probate court.

Question 2

How is a revocable trust different from a will?

Accepted Answer

A will goes through probate — a public court process that takes months and costs thousands. A revocable trust transfers assets privately, immediately, and without court involvement. Most people with a trust also have a pour-over will as a safety net.

Question 3

Do I need a trust if I only have a will?

Accepted Answer

A will alone means your estate goes through probate — a public court process that can take months and cost thousands. If you own real estate, have minor children, or want privacy, a trust avoids all of that. Many families have both: a trust for their primary assets and a pour-over will as a safety net.

Question 4

Can I change my revocable trust after creating it?

Accepted Answer

Yes. You can amend, restate, or revoke a revocable trust at any time while you are alive and competent. You can add or remove assets, change beneficiaries, swap trustees, or dissolve it entirely.

Question 5

Do I need a lawyer to create a revocable trust?

Accepted Answer

No. A revocable trust is a private document that does not require court approval or attorney involvement to create. However, consult a licensed attorney for guidance specific to your situation, particularly for complex estates or blended families. SimplyTrust offers an online revocable trust, typically completed in about 15 minutes.

What Is a Revocable Living Trust and How Does It Work?