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Download this Mississippi Revocable Living Trust form which allows an individual to flexibly plan for the distribution of assets and property.  The individual who creates the trust is called the grantor, and he creates a living trust during his life and places certain assets in the trust.  The trust is managed by a trustee who has a fiduciary obligation to the beneficiaries of the trust and is obligated to follow the provisions of the trust.  A grantor can directed that assets be paid at certain times and for certain purposes.  A revocable trust is a trust that can be modified or changed during the life of the grantor.  After the grantor dies, however, it becomes irrevocable.