What is typically a characteristic of a revocable trust?

A revocable trust is characterized by its ability to remain private and avoid the lengthy and potentially costly process of probate upon the grantor's death. This privacy is paramount because the trust's assets and distributions do not become part of the public record, which is often the case with wills that go through probate. Consequently, beneficiaries can inherit assets more seamlessly, without the delays associated with probate court proceedings.

While revocable trusts do not provide immediate tax advantages and can be changed or revoked by the grantor at any point during their lifetime, their key benefit lies in how they facilitate the transfer of assets after death without the need for probate. Additionally, a revocable trust does not automatically become irrevocable; it retains its revocable status as long as the grantor is alive, allowing for flexibility in managing the trust's terms and assets.