Who Are the Various People or Parties Involved in a Revocable Living Trust?

A Revocable Living Trust document, such as those drafted at our law firm Leigh Cowden PLLC, creates a legal entity that will hold title to your assets (property, car, bank accounts, stocks and other securities, etc.) “in trust for” or “for the benefit of” you and anyone else you designate. Those assets can be used and managed as you determine while you are alive, and will be distributed to beneficiaries as you designate upon your death. This entity will have its own tax identification number and it will file its own tax return.