# Revocable Trust

**IRI:** https://folio.openlegalstandard.org/R8IHBlLq2QiAZNYNeNO399M

## Labels

**Preferred Label:** Living Trust

## Definition

A Living Trust, also known as a revocable trust, is a legal entity created during the grantor's lifetime to hold and manage assets. It can be altered, amended, or revoked by the grantor at any time before their death, allowing flexibility in asset management and distribution.

## Sub Class Of

- https://folio.openlegalstandard.org/R9KvzcwdZ3asqh9BPZRGWR7

**Deprecated:** False