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Download this New Jersey Revocable Living Trust form which provides a way by which a grantor can set aside assets and property in a separately managed entity for the benefit of his or her beneficiaries.  A trust provides flexibility, continuity and privacy.  A trust is created during the life of the grantor and continues after his or her death.  The grantor specify who should be in charge of making sure the trust provisions are carried out and this person, called the trustee, has a fiduciary obligation to the beneficiaries.  In addition, the grantor can specify how and when he or she would like the funds of the trust disbursed to his or her beneficiaries by putting conditions and restrictions in the trust.  A revocable trust can be revkoed or modified during the life of the grantor, but it becomes irrevocable after his or her death.