Roseville, CA estate planning & probate attorney Kristin M. Kaminski explains how a living trust works. A living trust, known by various terms such as a revocable living trust, serves as a container for holding a significant portion of one’s assets. The assets are titled in the name of the trust, and it functions as a living instrument, remaining effective during the individual’s lifetime. In contrast to a will, which takes effect only after the person’s passing, a living trust actively manages assets while the individual is alive. In the event of incapacitation, the assets in the trust are overseen by the chosen successor trustee, a person trusted to handle financial affairs. Following the individual’s passing, the successor trustee retrieves the assets from the trust and distributes them to the designated beneficiaries.