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Download this Vermont Revocable Living Trust form which provides a way for an individual to place assets in a separate entity for the benefit of his or her beneficiaries.  A trust is flexible because it allows the grantor to specify how he or she wants the assets distributed to is or her beneficiaries.  For instance, a grantor may put a purpose restriction in the trust so that funds are expended on education only, or an age restriction so that funds can be only be distributed when a beneficiary reaches a certain age.  A trust provides continuity of asset management ebcause it continues past the lifetime of the grantor.  The trustee, appointed by the grantor, is tasked with managing the trust in a fiduciary capacity for the benefit of the trustee.  A revocable trust can be changed or terminated during the life of the grantor, but becomes irrevocable after the grantor passes away.