Technically you could name it anything but it is better to use a relevant name like the john smith revocable trust even if there are 1 million smith trusts out there they will not name the same trustee as you the trust will not have the same date and most important their trust will not have the same tax id which will be your social security number unless you need a unique one in which . A common estate planning tool a living trust is created by the preparation and execution of a trust agreement a document that identifies the trusts owner the trustee the person who oversees the trust and lists the trusts provisions a living trust needs a name because the trust is the owner of all the assets placed into it. Your estate plan isnt finished yet just because youve created a revocable living trust to plan for mental disability and to avoid probate at the time of your death you have to fund your trust after its set up funding requires a change of title to put assets into the trusts ownership. Why should my car be in my living trust titling your car in your living trust minimizes headaches for your successor trustee remember that in arizona probate is required if you pass away with assets worth more than 75000 titled under your individual name ie not titled in your living trust. A revocable living trust is a popular estate planning tool that you can use to determine who will get your property when you die most living trusts are revocable because you can change them as your circumstances or wishes change revocable living trusts are living because you make them during your lifetime
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