Which strategy allows an investor to maintain control of their investments during their lifetime?

A revocable living trust is a legal entity established during an individual's lifetime to manage their assets. One of its key features is that it allows the individual, known as the grantor, to retain control over the assets within the trust while still alive. The grantor can manage, change, or revoke the trust at any time, ensuring flexibility in investment decisions and estate planning. This type of trust helps avoid probate after the grantor's death, ensuring a smoother transfer of assets to beneficiaries while maintaining the grantor's control during their lifetime.

In contrast, tax-loss harvesting is a strategy focused on minimizing taxes rather than maintaining control over investments. Asset allocation involves distributing investments across various asset classes, impacting investment strategy rather than control. A bull call spread is an options trading strategy that may limit potential gains and does not provide overarching control over the overall investment portfolio. Thus, the revocable living trust is specifically designed to offer control of investments during the individual’s lifetime.