A revocable living trust is a legal document that designates what you own and who you want it to go to and when. Because this document is revocable, it may be modified during your lifetime.
The revocable living trust avoids the need for probate and/or conservatorship proceedings. Additionally, it can allow you to reduce or even eliminate taxes.
Most importantly, the revocable living trust allows you to see your compete financial picture which may help you better prepare for the future.