What is a revocable living trust and is it a good investment to protect from realistate probate?

A revokable trust is a "Living Trust". It can be changed and modified by the Trustor at any time. An irrevokable trust cannot be changed.

It protects real estate from probate in that the property goes into the name of the trust to be distributed as written in the trust. Since it is not a gift, there is no gift taxes to be paid.

My father had a living trust and it made distributing his property and assets very much easier and cheaper since it was all split equally between me and my siblings. There was little taxes to be paid since we were able to claim property tax exemptions and we were under the maximum allowable for capital gains taxes.

see an attorney. don't take any thing for granted do not assume. the find print in most cases because of the paper work involved is ignored and in this case could cost you time and money.trust funds for the most part are set up on time factors which is why get an honest attorney if you can find one,good luck