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Download this Delaware Revocable Living Trust Form which is a method by which a person can transfer his or her assets to a separate entity to be distributed to loved ones as chosen by the grantor.  A trust provides flexibility to the grantor as to how and when assets will be distributed.  For instance, a grantor can decide that the beneficiaries have to reach a certain age before they can receive adistribution.  Also, a grantor can specify purposes for the distribution, such as payments fo health and education.  The grantor specifies a trusted person to be the trustee.  The trustee has a responsibility to administer the trust properly and that all actions taken are for the benefit of the beneficiaries.

A revocable trust can be changed or revoked by the grantor during his or her lifetime, but it becomes irrevocable upon the grantor’s death.