1.1K views · 5.2K reactions | Understanding Revocable Living Trust vs Irrevocable Living Trust | E326 | Rich Somers | Facebook
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5.4K views · 40 reactions | Revocable vs Irrevocable “Living Trust” Explained | Rich Somers | Facebook
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How to set up a revocable living trust (with sample trust document)...and why setting up a trust now will save you LOTS of time and money later
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Question: What’s the difference between a revocable & irrevocable living trust? Answer: A revocable living trust lets you keep control. You can change it, update it, or cancel it while you’re alive, and it’s mainly used to avoid probate and plan for incapacity. An irrevocable trust gives up control. Once it’s created, you generally can’t change it, and it’s used for advanced planning like asset protection or certain tax and Medicaid strategies. Most people need revocable, not irrevocable. Get th
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