A revocable trust is a trust whereby provisions can be altered or canceled depending on the wishes of the grantor or the originator of the trust. During the life of the trust, income earned is distributed to the grantor, and only after death does property transfer to the beneficiaries of the trust.

A revocable trust is helpful since it provides flexibility and income to the living grantor (also called the trustor). Provisions of the trust can be changed, and the estate will be transferred to the beneficiaries upon the trustor’s death.