We do everything we can to ensure that our content is useful, accurate and secure. If by any chance you detect an inappropriate comment while browsing our website, please use this form to let us know and we will take care of it shortly. It should be spelled, “There is no universal abbreviation. Revocable trusts allow beneficiaries to avoid probate court and guardianship or conservatorship proceedings; they also allow documents to be kept private.
It appears in fiduciary instruments the trust formation documents to establish that a trust has been formed in irrevocable life. An irrevocable trust describes a trust that cannot be modified once it is created without the consent of the beneficiaries.