Download this Wisconsin Revocable Living Trust form which is a document that creates a separate legal entity for holding assets and property. A grantor creates a trust for a number of reasons, including to create certain conditions and terms that reflect the circumstances of his or her family and values. For instance, in a trust, a grantor can specify that until a beneficiary reaches a certain age, funds from the trust may only be spent on education. In addition, because a trust is a separate entity, it is continuous and survives the grantor. The grantor chooses a trustee who is in charge of making sure the provisions are carried out. A revocable trust can be revoked or modified during the life of the grantor, but becomes irrevocable when the grantor passes away.