When the creator of a revocable trust dies, the trust usually becomes irrevocable and the successor trustee begins administering its assets according to the trust terms. Property titled in the trust generally can be managed and distributed without passing through probate, although taxes, debts, expenses, and legal requirements still must be addressed. A Revocable Trust [...]

A revocable trust controls assets that have been properly transferred into the trust, while a will generally controls probate assets that remain in your individual name at death. Neither document automatically controls every asset because beneficiary designations, joint ownership, transfer-on-death arrangements, and other nonprobate transfers may determine who receives certain property. The key is coordination. [...]