A living or revocable trust allows one to have more control over their estate both before and after death. It is popular because it often saves money by avoiding probate and allows the assets to pass more quickly to the beneficiaries. It offers great flexibility and you are the trustee of your own trust. As such, you can manage all of your assets and property during your lifetime. The only difference is that the assets and property are in the name of the trust, ie., The Revocable Trust of Your Name. With a trust all of your records are private as opposed to a will where your estate is a matter of public record. It often depends on the size of your estate as to whether a living or revocable trust is recommended.