Revocable Living Trust: A Trust which is operative during the life of the Trustor (the person creating the Trust) in which he or she has complete control and disposition over his or her assets within in the Trust. A Revocable Living Trust (“RLT”) may be amended or terminated at anytime by the Trustor. A RLT holding the assets of the Trustor will avoid Probate and provide efficient management, distribution and privacy to the Estate at the death of the Trustor. Married individuals can also use RLT’s to significantly diminish or even eliminate Estate Taxes.