Revocable Living Trusts

A Revocable Living Trust is a trust that is established while the grantor is still living. Since it is revocable, the grantor has the ability to change, amend or revoke portions of the trust at their discretion. This type of trust usually names a trustee and a successor trustee to take control if the original trustee becomes impaired or resigns. The grantor of a revocable trust might name themselves, a family member or a third party as trustee. CoreFirst Bank & Trust may serve in various capacities during this process.  We might be named as the initial trustee, as a successor trustee or as investment manager with another party as trustee. Assets are then distributed under the terms and guidelines of the trust document.