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A revocable living trust allows the settlor to retain control during life and designate management and distribution at death or incapacity. When assets are re-titled into the trust, those assets typically avoid probate, enabling faster, more private administration. The trust alone does not guarantee estate tax elimination; tax exposure depends on overall estate value, applicable exemptions, and trust structure. Revocable trusts are amendable or revocable during the settlor’s capacity, and many estate plans still include a pour-over will to capture assets not funded into the trust and “pour” them into the trust at death. Paralegals assist by preparing funding schedules, coordinating re-titling, tracking successor trustee provisions, and ensuring consistency across beneficiary designations. The CP exam tests understanding of probate vs. non-probate transfers and the functional roles of wills, trusts, and ancillary documents.