Get our app
Account Sign up Sign in

Start Your Living Trust

It's simple with step-by-step guidance.

Start Your Living Trust

Get started

One significant difference between revocable and irrevocable trusts are that assets in a revocable trust are included in your estate for estate tax purposes, while assets that you transfer into an irrevocable trust are usually excluded from your estate for estate tax purposes. Thus, by giving up control over the assets with an irrevocable trust (or at least most of the control) you may gain an estate tax advantage.  It's smart to talk to an estate tax attorney to find out how to plan for any estate taxes.

A revocable trust is also known as a Living Trust.  Advantages of a revocable or Living Trust are that you can appoint someone to manage your affairs in case you are incompetent (your successor trustee), you can avoid the additional cost of probate proceedings, and you can keep your affairs more private.


This article contains general legal information and does not contain legal advice. Rocket Lawyer is not a law firm or a substitute for an attorney or law firm. The law is complex and changes often. For legal advice, please ask a lawyer.

Ask a lawyer

Our network attorneys are here for you.
Characters remaining: 600
Rocket Lawyer Network Attorneys

Try Rocket Lawyer FREE for 7 days

Start your membership now to get legal services you can trust at prices you can afford. You'll get:

All the legal documents you need—customize, share, print & more

Unlimited electronic signatures with RocketSign®

Ask a lawyer questions or have them review your document

Dispute protection on all your contracts with Document Defense®

30-minute phone call with a lawyer about any new issue

Discounts on business and attorney services