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Darcel Lobo, owner of a law firm, discusses the importance of funding a revocable living trust. A revocable living trust is an estate planning document that determines the distribution of assets and avoids the probate process, a key advantage over a will. To function effectively, the trust must own the assets it governs. Lobo emphasizes that when creating a revocable living trust estate plan, it involves funding the trust based on the client's existing assets. He introduces the topic of how to fund the trust, particularly regarding real estate owned in the client's name.