A revocable living trust is a document that also will distribute your assets at death. Unlike a will, there is no court supervision of the distribution of your assets. You can also have the trust delay distribution to heirs that might be a spendthrift or that are collecting governmental assistance.
Probate is the process that the law provides for the distribution of your assets following your death. Assets in a trust, as explained below, assets that are joint with right of survivorship or assets that have a named beneficiary will pass outside of probate and are not part of the probate process.
Guardians and Conservators are appointed by a judge after a court hearing. This may be a necessary step if an individual becomes incompetent and did not sign powers of attorney.