Many individual and family estate plans also include Revocable Living Trusts. These Trusts are called “revocable” because you can change them as your wishes or circumstances change over the years, and “living” because you make them during your lifetime. An Irrevocable Trust is one that cannot be revised. Trusts are a very useful tool in estate planning because they ensure that your assets avoid probate and keep the details of which assets are passed and to whom out of the public record. By transferring assets to a trust, you can provide for continued management of your financial affairs according to your wishes if you are incapacitated and upon your death.