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Download this North Carolina Revocable Living Trust Form which provides a method to se aside funds in a separate entity for the benefit of your beneficiaries.  A trust is continuous in that it survives the death of the creator.  A grantor can also draft specific provisions in the trust which govern the timing and purposes of trust fund disbursements. A trust is a private document, unlike a will, so it can provide the grantor with privacy.  The grantor chooses a trusted person or professional fiduciary to manage the trust.  This person is called a trustee and the trustee has a fiduciary obligation to responsibly manage the trust assets.  A revocable trust can be modified or terminated during the life of the grantor.  The assets in a revocable trust will be considered part of the grantor’s estate.