Download the Nebraska Revocable Living Trust form which provides for the ability of the grantor to set aside assets and funds for the benefit of loved ones or organizations. A trust offers continuity of asset management, in that it continues during the life of the grantor and after his or her death. It also provides flexibility for a grantor to direct how and when he wants this assets spent. Finally, it provides privacy because a trust, like a will, is generally not filed with the probate court. A grantor can also choose who he wants to manage the trust. This person is called the trustee and has a fiduciary obligation to the beneficiaries of the trust. A revocable trust can be changed or revoked by the grantor during his or her life, but it becomes irrevocable thereafter.