A revocable trust and an irrevocable trust are two types of trusts that serve different purposes in estate planning. *Revocable Trust:* A revocable trust, also known as a living trust, is a trust that can be modified or dissolved by the grantor (the person who created the trust) at any time. The grantor can change the terms of the trust, add or remove beneficiaries, or even terminate the trust altogether. *Key characteristics:* - Can be changed or dissolved by the grantor at any time - Allows fo

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