It is important to understand the differences between trusts when deciding what is best for your situation. With a revocable trust you have complete control over the trust even after it is created. It can be amended or revoked by the trustor at any given time. Only when the trustor dies does the trust become irrevocable. Revocable trusts are often used to avoid probate court but do not go as far as irrevocable trusts in that they do not provide protection from federal estate taxes.

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