Properly implemented Revocable Living Trusts are useful Estate Planning strategies in jurisdictions where the probate process is cumbersome and expensive. In such jurisdictions, properly drafted and implemented Revocable Living Trusts may simplify the probate process and reduce expenses by excluding assets placed in the Trust from the probate process (although they are still included in the gross estate for Estate Tax purposes and are also still subject to Income Tax).
Revocable Living Trusts may also provide a client with privacy regarding his estate because the Trust document, unlike a Will, does not become part of the public record. Revocable Living Trusts may also be useful in situations where a client may become incapacitated and they do not want their assets to fall under the control of an estranged child. In order to work properly, however, Revocable Living Trusts must be properly funded.
Investment accounts are the one class of asset that should almost always go into your Revocable Living Trust, according to The Herald Bulletin in "If you have a trust, that's where your investments should go."
When an Estate Planning attorney drafts you a proper Revocable Living Trust, you need to fund it with your assets (an experienced and qualified attorney should assist you with the funding process). That can sometimes be difficult depending on the asset. Also, your Estate Plan might be created in such a way to keep certain assets out of the Trust for various reasons.
However, any non-qualified investments that you have should almost always go into your Revocable Living Trust.
An Estate Planning attorney can guide you in setting up a Revocable Living Trust that fits your unique circumstances.
Reference: The Herald Bulletin (Dec. 17, 2016) "If you have a trust, that's where your investments should go."