Revocable Living Trust
This type of Trust can be changed by you at any point during your lifetime. You're in control of all of your assets, and they are re-titled and placed into the Trust for you to do whatever you'd like with them.
You can name yourself as the Trustee, change the beneficiaries, tailor the terms of the Trust in ways that take care of, for instance, your surviving spouse -- then have the remainder of the assets pass on to your children or grandchildren, in whatever manner you choose.
A Revocable Living Trust is one of the most uniquely maleable Estate Planning tools available for both protection of our hard-earned assets that we've acquired over a lifetime as well as the ease of changing its terms and avoiding having it probated.
Again, a Revocable Living Trust does not have to go through the probate process the way a Will must.
Because the Trust is "funded" (in other words, we place all of your important assets inside of the Trust), you simply name the beneficiaries as to whom you would like to recieve your property upon
There is no Will that can be contested. No judge is needed to validate the Will.
And, for many clients, privacy is a concern. With a Revocable Living Trust nobody will know what your assets are unless you tell them.
A Will, on the other hand, is a public record.
If privacy is a concern and you wish to avoid the probate process, a Revocable Living Trust is both a powerful yet simple mechanism to accomplish this.