Phoenix, AZ estate planning attorney Mark A. Bregman explains a revocable trust. He explains that a revocable trust serves as an alternative to a will. With a traditional will, after a person’s death, the estate must go through probate court, where the court appoints the executor and formally validates the will. The executor then follows the will’s instructions, paying creditors and distributing assets to the beneficiaries.

In contrast, a revocable trust allows clients to transfer their assets into the trust during their lifetime, with themselves as trustee. For example, Mark Bregman might transfer his house to himself as trustee of the Bregman Trust. Upon his death, the trust designates a successor trustee, such as Sandy Bregman, to manage and distribute the assets according to the trust’s terms. This process bypasses probate court, allowing for a smoother transition of assets. Revocable trusts—also referred to as revocable living trusts or RLTs—are primarily used to avoid probate and simplify estate administration.