revocable living trust

Type: Concept

As of November 2026, revocable living trust has been mentioned in 2 episodes across 1 podcast, first heard Feb 2026 on Coffeez for Closers with Joe Shalaby. In the "Coffeez for Closers" episodes featuring Blake Harris, revocable living trusts are discussed primarily as tools for avoiding probate. However, Harris emphasizes that they do not offer asset protection from lawsuits during a person's lifetime, correcting a common misunderstanding about their purpose. This contrasts with asset protection trusts, which are designed specifically for lawsuit protection.

A trust is a legal relationship in which the owner of property, or any transferable right, gives it to another to manage and use solely for the benefit of a designated person. In the English common law, the party who entrusts the property is known as the "settlor," the party to whom it is entrusted is known as the "trustee," the party for whose benefit the property is entrusted is known as the "beneficiary," and the entrusted property is known as the "corpus" or "trust property." A testamentary