Revocable Trust: A General Guide
Jump to Section
Quick Facts — Revocable Trust Lawyers
- Avg cost to draft a Trust: $1440.00
- Lawyers available: 87 estate planning lawyers
- Clients helped: 173 recent revocable trust projects
- Avg lawyer rating: 4.75 (5 reviews)
Revocable trusts allow people to control assets during their lifetime while providing for the transfer of those assets to their beneficiaries after their death. Many people choose to manage their estates with the help of revocable trusts, which are also called living trusts, because they are flexible.
Essential Features of a Revocable Trust
Revocable trusts are a flexible and customizable estate planning tool that can offer a range of benefits for individuals. Here are some of the essential features of revocable trusts:
- Ownership and Control. With a revocable trust, the individual creating the trust (known as the grantor or settlor) retains ownership and control over the assets placed in the trust during their lifetime.
- Avoiding Probate. Assets held in a revocable trust are not subject to probate, which can help streamline the transfer of assets to beneficiaries and reduce costs and delays.
- Flexibility. Revocable trusts can be amended or revoked by the grantor at any time, allowing for changes to be made as circumstances or preferences change.
- Privacy. Unlike a will, a revocable trust is a private document that does not become part of the public record after the grantor's death.
- Disability Planning. A revocable trust can include provisions for managing assets in the event of the grantor's incapacity, providing a way to manage financial affairs without needing court intervention.
These are just a few qualities of revocable trusts. Still, there are many other factors to consider when deciding if a revocable trust is the right estate planning tool for you. Consulting with a legal professional can help ensure that you create a plan that meets your individual needs and goals.
Benefits of a Revocable Trust
Revocable trusts offer several advantages for individuals planning their estates. Here are some of the key advantages:
- Avoiding Probate. One of the primary advantages of a revocable trust is that it allows assets to pass to beneficiaries without going through the costly and time-consuming probate process. This can save beneficiaries time, money, and hassle in the event of the grantor's death.
- Control Over Assets. With a revocable trust, the grantor maintains control over their assets during their lifetime. This means they can change or revoke the trust at any time and retain the ability to manage their assets if they become incapacitated.
- Privacy. Unlike a will, which becomes a matter of public record after the grantor's death, a revocable trust is a private document. This can help protect the grantor's privacy and keep sensitive information from the public eye.
- Reduced Estate Tax Liability. Revocable trusts can be designed to minimize the grantor's estate tax liability, which can help maximize the number of assets that pass to beneficiaries.
- Asset Protection. A revocable trust can sometimes protect assets against creditors or other claims.
These are just a few of the many advantages of a revocable trust. However, it's important to note that every individual's situation is unique, and what works for one person may not be the best option for another. Consulting with an experienced estate planning attorney can help you determine whether a revocable trust is right for your specific circumstances.
How to Create a Revocable Trust
Here are the steps to create a revocable trust:
- Determine if a Revocable Trust is Right for You. Before creating a revocable trust, it's important to consider your circumstances and determine whether this type of trust is the best option for your needs. Consulting with an experienced estate planning attorney can help you determine whether a revocable trust is right for you.
- Choose a Trustee. The trustee manages the trust and distributes assets according to the grantor's wishes. This can be the grantor, a family member, or a professional trustee.
- Draft the Trust Document. The trust document is a legal document that outlines the terms of the trust, including the beneficiaries, assets to be included in the trust, and instructions for managing and distributing those assets. Working with an experienced estate planning attorney is important to ensure your trust document is properly drafted and legally binding.
- Fund the Trust. For the trust to be effective, assets must be transferred into the trust. This typically involves changing the assets' title to the trust's name.
- Sign and Notarize the Trust Document. Once drafted and funded, it must be signed and notarized per the law.
- Review and Update the Trust As Needed. Over time, your circumstances and wishes may change, and it's important to review and update your trust document as needed to ensure that it continues to reflect your wishes and goals.
Creating a revocable trust can be a complex process, and working with an experienced estate planning attorney is important to ensure that your trust is properly drafted and legally binding.
Revocable Trust Template
Steps to Modify a Revocable Trust
Modifying a revocable trust typically involves the following steps:
- Review the Trust Document. Review the trust document to determine what changes need to be made.
- Prepare an Amendment. Prepare an amendment that outlines the changes you wish to make to the trust. This amendment should be drafted following the law and reviewed by an experienced estate planning attorney to ensure it is legally valid.
- Execute the Amendment. Sign the amendment in the presence of a notary public and have it notarized.
- Notify the Trustee. Notify the trustee of the changes to the trust and provide them with a copy of the amendment.
- Update the Trust's Funding. If the changes to the trust involve adding or removing assets, it is important to update the trust's funding accordingly.
It is important to note that while a revocable trust can be modified, certain changes may require the creation of a new trust document. Working with an experienced estate planning attorney is also important to ensure that any changes to your revocable trust are properly executed and legally valid.
Key Terms for Revocable Trusts
- Grantor: The person who creates and funds the revocable trust.
- Trustee: The person or entity responsible for managing the trust assets and distributing them according to the terms of the trust.
- Beneficiary: The person or entity who receives the trust assets or income from the trust.
- Revocation: The act of canceling or annulling a trust.
- Funding: The process of transferring assets from the grantor's name to the name of the trust so that the trust owns them.
Final Thoughts on Revocable Trusts
A revocable trust can be a powerful estate planning tool for many individuals, offering a range of benefits such as privacy, flexibility, and the ability to avoid probate. It allows you to maintain control over your assets during your lifetime while providing a clear plan for how they will be managed and distributed after you pass away.
However, setting up a revocable trust requires careful consideration and planning, and it's important to work with a knowledgeable estate planning attorney to ensure that your wishes are accurately reflected in the trust documents. With proper guidance and planning, a revocable trust can effectively protect your assets and ensure that your loved ones are provided for according to your wishes.
If you are looking to get free pricing proposals from vetted lawyers that are 60% less than typical law firms, you can click here to get started. By comparing multiple proposals for free, you can save the time and stress of finding a quality lawyer for your business needs.
See Real Trust Projects
South Dakota Soouth Dakota or Nevada Asset Protection Trust Drafting
- South Dakota
- 2 lawyer bids
- $3,000 - $5,750
ContractsCounsel is not a law firm, and this post should not be considered and does not contain legal advice. To ensure the information and advice in this post are correct, sufficient, and appropriate for your situation, please consult a licensed attorney. Also, using or accessing ContractsCounsel's site does not create an attorney-client relationship between you and ContractsCounsel.
Need help with a Revocable Trust?
Meet some of our Revocable Trust Lawyers
Tiffany O.
Tiffany received her Juris Doctorate from the J. Reuben Clark Law School, Magna Cum Laude. She is admitted to the Utah State Bar and the New Mexico State Bar. She practices in the areas of real estate, general business, business formation, employment agreements, and civil litigation.
"Overall great experience, Tiffany was very easy to work with even though we are in different time zones."
Samuel R.
My career interests are to practice Transactional Corporate Law, including Business Start Up, as well as Real Estate Law, Estate Planning Law, and Intellectual Property Law. I am currently licensed in Arizona, Pennsylvania and Utah, after having moved to Phoenix from Philadelphia in September 2019. I currently serve as General Counsel for a bioengineering company. I handle everything from their Business Transactional Agreements, Private Placement Memorandums, and Corporate Structures to Intellectual Property Assignments, to Employment Law and Beach of Contract settlements. Responsibilities include writing and executing agreements, drafting court pleadings, court appearances, mergers and acquisitions, transactional documents, managing expert specialized legal counsel, legal research and anticipating unique legal issues that could impact the Company. Conducted an acquisition of an entire line of intellectual property from a competitor. In regards to other clients, I am primarily focused on transactional law for clients in a variety of industries including, but not limited to, real estate investment, property management, and e-commerce. Work is primarily centered around entity formation and corporate structure, corporate governance agreements, PPMs, opportunity zone tax incentives, and all kinds of business to business agreements. I have also recently gained experience with Estate Planning law, drafting numerous Estate Planning documents for people such as Wills, Powers of Attorney, Healthcare Directives, and Trusts. I was selected to the Super Lawyers Southwest Rising Stars list for 2024 - 2026. Each year no more than 2.5% of the attorneys in Arizona and New Mexico are selected to the Rising Stars. I am looking to further gain legal experience in these fields of law as well as expand my legal experience assisting business start ups, and also trademark registration and licensing.
"Thanks Samuel for your thorough review of my materials. I'm incredibly impressed by your prompt turnaround in drafting my letter. The letter captured the facts perfectly and struck exactly the right tone."
David W.
The Law Office of David Watson, LLC provides comprehensive and individualized estate-planning services for all stages and phases of life. I listen to your goals and priorities and offer a range of estate-planning services, including trusts, wills, living wills, durable powers of attorney, and other plans to meet your goals. And for convenience and transparency, many estate-planning services are provided at a flat rate.
"David quickly put in a bid and began work. He was very responsive to any questions I had."
Anand A.
Anand is an entrepreneur and attorney with a wide-ranging background. In his legal capacity, Anand has represented parties in (i) commercial finance, (ii) corporate, and (iii) real estate matters throughout the country, including New Jersey, Pennsylvania, Delaware, Arizona, and Georgia. He is well-versed in business formation and management, reviewing and negotiating contracts, advising clients on financing strategy, and various other arenas in which individuals and businesses commonly find themselves. As an entrepreneur, Anand is involved in the hospitality industry and commercial real estate. His approach to the legal practice is to treat clients fairly and provide the highest quality representation possible. Anand received his law degree from Rutgers University School of Law in 2013 and his Bachelor of Business Administration from Pace University, Lubin School of Business in 2007.
"Anand was a pleasure to work with! He was very thorough and professional."
Daehoon P.
Daehoon P.
Corporate, M&A & Securities Lawyer | Managing Attorney, DP Counsel PLLC Practice Areas: Business Formation | Commercial Contracts | Contract Drafting & Review | Mergers & Acquisitions | Venture Capital | Securities Offerings | Franchise Law | Employment & Equity Compensation | Intellectual Property | Cross-Border Transactions About/Bio: I represent companies, investors, and fund sponsors in corporate transactions, commercial contracting, and private securities matters, from entity formation and early-stage financings to acquisitions, exits, and ongoing strategic counsel. As Managing Attorney of DP Counsel PLLC, I help clients structure transactions clearly, allocate risk thoughtfully, and move deals forward with documentation that is practical, enforceable, and aligned with business objectives. My practice includes both day-to-day commercial matters and more complex transactional work, including venture financings, private offerings, M&A deals, fund-related documents, and cross-border structuring. What I Do: Corporate & Commercial • Entity formation and structuring for corporations, LLCs, and limited partnerships • Operating agreements, shareholder agreements, and governance documents • Commercial contract drafting, review, and negotiation • Vendor, distribution, manufacturing, SaaS, and licensing agreements • Employment, consulting, confidentiality, and equity compensation agreements • Outside general counsel support for growing companies Securities & Private Capital • Private offerings under Regulation D and Regulation S • Private placement memoranda, subscription agreements, and investor documents • SAFE, convertible note, and priced equity financings • Venture capital and private fund formation matters • Fund governing documents and offering document packages • Securities law analysis for private capital raising transactions Mergers & Acquisitions • Letters of intent and term sheets • Stock purchase, asset purchase, and merger agreements • Due diligence coordination and transaction support • Disclosure schedules, closing documents, and post-closing matters • Earnouts, rollover equity, indemnity structures, and related deal terms • HSR, CFIUS, and related regulatory issue spotting for qualifying transactions Digital Assets & Emerging Technologies • Federal-law digital asset and token securities analysis • Entity structuring for blockchain and Web3 ventures • Digital asset fund and operating structures • AML/KYC documentation support and regulatory issue spotting Franchising • Franchise Disclosure Documents (FDDs) • Franchise agreements • Master franchise and area development agreements • Franchise structuring and registration coordination Real Estate Transactions • Commercial real estate acquisitions and dispositions • Real estate joint ventures and syndications • Commercial lease drafting and negotiation • Real estate investment structures and related offering documents Cross-Border & International • U.S. market entry and entity structuring for international clients • Delaware and multi-entity holding structures • Cross-border transaction planning and documentation • Coordination with foreign counsel and tax advisors on cross-border matters Why Clients Hire Me: • Big-law-level drafting with boutique responsiveness • Practical, business-focused advice grounded in execution reality • Clear scoping and transparent fee arrangements • Experience across financings, acquisitions, fund formations, and cross-border transactions Typical Projects: • Contract drafting and negotiation • Entity formation and governance packages • Private offering document suites • Venture financing documentation • M&A transactions from LOI through closing • Fractional or outside general counsel support Industries Technology | SaaS | FinTech | Digital Assets | E-commerce | Healthcare | Real Estate | Food & Beverage | Professional Services
"Thanks Daehoon for going above and beyond and helping me with a lot of detailed information regarding signing multiple contracts. I was very happy with the outcome. Best"
Brian R.
Highly respected strategic advisor and trusted business partner to diverse stakeholders, ranging from C-suite executives to frontline managers in both public and private sectors. Recognized thought leader known for translating complex legal concepts into straightforward, pragmatic, actionable advice. Proven track record of collaborating with executive teams to drive and execute corporate initiatives. Expert at leading tactical legal strategies across various business functions in dynamic, high-growth environments, with a keen sense for balancing legal rigor and practical business solutions.
"Brian is an excellent resource. He communicates well, presents a very realistic picture of options, and provides the right guidance. We were very happy with his work."
July 8, 2025
Parsa G.
I’m a licensed attorney with a J.D. and a strong background in reviewing, negotiating, and drafting a wide range of commercial agreements, especially in the context of international trade and cross-border transactions. I’ve reviewed hundreds of sales contracts, and have experience drafting and negotiating international sale of goods agreements, distribution agreements, supplier/manufacturer contracts, licensing agreements, and service-level agreements (SLAs). My focus is on helping clients reduce risk and protect their interests through clear, enforceable contract language. I also advise on key international elements like Incoterms, dispute resolution mechanisms (including ICC arbitration), payment structuring, governing law, and IP protections. Whether you need a custom agreement, a contract review with redlines, or support structuring a cross-border deal, I bring both precision and practicality to every engagement.
Find the best lawyer for your project
Browse Lawyers NowLawyer Reviews for Revocable Trust Projects
UTMA Trust Agreement
"I was very grateful to receive such quick service from Jane. She was very easy to reach and responded to every question, query almost immediately. She was very easy to work with also."
I need to create a land trust to take title of a single asset
"Excellent Attorney!"
Need a new charitable remainder trust
"Fantastic to work with!"
Reply From Faryal A.
Thank you for the kind review. As the year closes, I would appreciate it if you could kindly spare two minutes to leave a review on my google profile. It would greatly help in building my online presence. Here is the link - https://g.page/r/CVbJi_3Jm2agEBM/review.
View MoreCreate a Basic Revocable Land Trust for Farm Purchase in Alabama
"Thank you for helping me out in a pinch. Fast, easy and stress free!"
Quick, user friendly and one of the better ways I've come across to get ahold of lawyers willing to take new clients.
View Trustpilot ReviewNeed help with a Revocable Trust?
Estate Planning lawyers by top cities
- Austin Estate Planning Lawyers
- Boston Estate Planning Lawyers
- Chicago Estate Planning Lawyers
- Dallas Estate Planning Lawyers
- Denver Estate Planning Lawyers
- Houston Estate Planning Lawyers
- Los Angeles Estate Planning Lawyers
- New York Estate Planning Lawyers
- Phoenix Estate Planning Lawyers
- San Diego Estate Planning Lawyers
- Tampa Estate Planning Lawyers
Revocable Trust lawyers by city
- Austin Revocable Trust Lawyers
- Boston Revocable Trust Lawyers
- Chicago Revocable Trust Lawyers
- Dallas Revocable Trust Lawyers
- Denver Revocable Trust Lawyers
- Houston Revocable Trust Lawyers
- Los Angeles Revocable Trust Lawyers
- New York Revocable Trust Lawyers
- Phoenix Revocable Trust Lawyers
- San Diego Revocable Trust Lawyers
- Tampa Revocable Trust Lawyers
ContractsCounsel User
Prepare a Residential Real Estate Mortgage and Promissory Note - AND - prepare a Joint Trust to Own Real Estate
Location: Florida
Turnaround: Over a week
Service: Drafting
Doc Type: Trust
Number of Bids: 5
Bid Range: $700 - $1,900
ContractsCounsel User