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hi Im Jeff Palomo with Palomo and Associates we are your estate planning and elder law firm in this video were going to talk a little bit about revocable living trusts what they are and what theyre commonly used for and also you know maybe why theyre not quite as used or as important as they used to be or what people think they are a trust is a contract between three parties the grantor the person who creates it the trustee the person who controls it and the beneficiary the person who receives it now in a revocable trust you can be all three right you can be the Creator the controller and the receiver and its completely revocable you can change your mind you can get rid of the trust you can change the terms of the trust you could do anything you want but the biggest thing is that with a revocable trust you do not get asset protection there is no asset protection with revocable trusts Jeff I heard from a very popular pundit who said you did I understand that and I know that theres
