• If you own real property, or if you have an estate with a value that exceeds $100,000, the revocable trust is an option you should consider. In California, the revocable living trust is often utilized as a means of avoiding probate. This is because probate is often a lengthier and costly legal proceeding that requires court supervision.
  
  

Who is Involved in a Revocable Living Trust?

• These trusts involve a trustor, trustee and beneficiary. The trustor creates the revocable living trust and is responsible for transferring the property to the trust. The trustee is the person who will receive the things on the behalf of the trustor. The beneficiary is the person benefiting from the trust's terms.
  
  

What Conditions Make the Revocable Trust the Best Option?

• If you own real property, or if you have an estate with a value that exceeds $100,000, the revocable trust is an option that you should consider. In California, the revocable living trust is often utilized as a means of avoiding probate. This is because probate is often a lengthier and costly legal proceeding that requires court supervision.
  
  

Who Imposes Terms and Conditions on Revocable Living Trusts?

• State laws are responsible for imposing conditions and terms on revocable living trusts and the trustee must follow these pertaining to the trust property. Other terms and conditions may be imposed by the documents responsible for the trust creation. The trustee, then, is required by law to follow the conditions outlined in the trust and those imposed by California law.
  
  

What Does Revocable Living Trust Mean?

• The "revocable trust" term refers to any trust specifically set up to avoid probate proceedings as a revocable living trust will circumvent probate and its related problems. The term also refers to trusts set up for tax savings and estate planning purposes. The "living trust" term refers to instructions in the trust that explain how to manage it not only while the trustee is alive, but also once they pass away.
  
  

Are there Drawbacks?

• Because revocable living wills in California do not require a probate proceeding or court supervision, the executor of the trust can choose to ignore the wishes outlined in your trust. If your trust is not being handled properly, any interested party can bring your trust to the probate court by filing a petition, including beneficiaries, heirs and creditors. So while a trust executor may attempt to go against your wishes after your death, it is reasonably easy to ensure this does not occur.