A Revocable Trust is a legal arrangement that allows a person, known as the grantor, to place their assets into a trust during their lifetime. The grantor retains control over the trust and can modify or revoke it at any time. This flexibility makes revocable trusts popular for estate planning, as they can help avoid probate and ensure a smoother transfer of assets upon the grantor's death. When the grantor passes away, the assets in the revocable trust are distributed according to the terms set in the trust document. This process typically occurs without the need for court intervention, making it quicker and more private than traditional probate. Additionally, revocable trusts can provide a way to manage assets if the grantor becomes incapacitated, as a successor trustee can step in to manage the trust.