A Revocable Living Trust is an estate planning option that manages and protects the assets of the individual (grantor) during their lifetime. The Revocable Trust can be amended or revoked as the grantor desires and is included in estate taxes. The Revocable Trust lays out the guidelines of operation for the Trust, what powers the trustee has or does not have, what the beneficiaries are to receive, and how the beneficiaries are to receive the trust property. If properly funded, the Revocable Living Trust bypasses and avoids probate, remains private and becomes irrevocable upon the grantor’s death. It also provides you with the ability to customize a plan specific to your circumstances and wishes regarding your legacy.