from Googling:
A trust acts like a will and the property is distributed to the beneficiaries as directed by the trust agreement when the grantor dies.
A revocable trust is a trust whereby provisions can be altered or canceled dependent on the grantor. During the life of the trust, income earned is distributed to the grantor, and only after death does property transfer to the beneficiaries. Also referred to as a "revocable living trust".
Typically, a revocable trust becomes irrevocable (cannot be changed) when you die.
A trust involves three parties: you as the creator, the trustee or trustees who agree to manage your assets as directed by the terms of the trust, and the beneficiaries
A revocable trust VS An irrevocable trust is an arrangement whereby a grantor relinquishes legal ownership of property and places it under the administration of a trustee, who administers it for the benefit of the trust beneficiaries.
