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Simple English definitions for legal terms

Revocable living trust

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A quick definition of Revocable living trust:

A revocable living trust is a type of trust that someone creates while they are alive. The person who creates the trust, called the settlor, can change their mind and end the trust at any time. If the settlor doesn't say they can end the trust, then it can't be ended. Different places might have different rules about how these trusts work.

A more thorough explanation:

A revocable living trust is a type of trust that is created during the lifetime of the person who sets it up, known as the settlor. The settlor has the power to change or end the trust at any time, and can also recover the assets that were placed in the trust. If the settlor does not reserve the power to revoke the trust, then the trust is considered irrevocable.

For example, let's say that John sets up a revocable living trust and places his house and savings into the trust. He reserves the right to change or end the trust at any time. If John decides to revoke the trust, he can take back his house and savings. However, if John did not reserve the power to revoke the trust, then he would not be able to change or end it.

It's important to note that the rules for revocable living trusts may vary depending on the jurisdiction. For instance, some states may require certain formalities to be followed in order to revoke a trust, while others may not.

Revival | Revocable Trust

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9:32
[kevin oleary]
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
WorthlessAttractiveZombie
9:34
I mean if Fordham doesn't release today I will purposefully get on a train, go to new york, and then take the stinkiest shit inside the admission office's toilet (potentially clogging it and forcing them to get a plumber)
IS IT ONLY ON MY END WHY DID THAT SEND TEN MILLION TIMES
HELLO
WorthlessAttractiveZombie
9:35
it sent a million times lol
WHAT HAPPENED
yeah i thought you were tweaking for a second
i'm so sorry everyone what the actual fuck this website hates me
WorthlessAttractiveZombie
9:35
Jack's just tweaking on LSD no biggie
to be fair this accurately represents my mental state
election day psychosis coming in hot (fordham)
usc pls pull through .....
i literally just need one A so i can relax before my ED decision
WorthlessAttractiveZombie
9:38
oh that's right USC might release
soapy
9:43
USC still has not looked at my app
WorthlessAttractiveZombie
9:43
when did you submit soapy?
soapy
9:44
10/16
WorthlessAttractiveZombie
9:44
to be fair it took them almost 2 months for me to go under review
soapy
9:44
Feelin a bit stressed, as I've got no date change for Michigan either despite applying 10/7
WorthlessAttractiveZombie
9:45
I have not had a date change either for Mich but I've seen people get in without one so who knows
I applied 9/25 to like 6 schools and some (Houston) have no date change yet so dw
soapy
9:46
But do people get in without addresses going long?
WorthlessAttractiveZombie
9:46
it's tough to tell because a lot of people type out their addresses long to begin with
soapy
9:46
Ah. I didn't. Looking back, my Mich supplement kind of sucks, so there's that
Mich overrated (Dean Z please let me in even tho i didnt apply and I am below both 25ths)
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