presented "Rules Versus Standards in Wills, Trusts, and Estates" at the Association of American Law Schools (AALS) Annual Meeting on "The Next Generation of Trusts and Estates Scholarship" panel in New York, NY, January 3, 2014Daniel B. Kelly...
A grantor establishes a living trust when they are alive, and the trust is revocable or irrevocable. Revocable trusts, which can be changed by the grantor during their lifetime have more flexibility than irrevocable trusts, which cannot be changed after they are executed. Both types avoid probate...