Revocable Gifts of Personal Property: A Possible Will Substitute, Part I
Abstract
The uncertainty, delay, and expense that frequently attend the testamentary gift as it passes through probate and administration have caused many people to seek a different means of providing for the posthumous distribution of their property among their families and friends. The revocable trust has proven to be a popular answer to this quest. For the revocable trust enables a settlor to retain his pre-eminence while making a gift which technically is not testamentary and which therefore need not pass through probate and administration.
This paper has been withdrawn.