Do I give up control to my trustee if I create a revocable or living trust?

No. As long as the trust is revocable and you are competent, you can be the trustee and can retain  full control and even the ability to terminate the trust.  However, thesse very powers cause the assets to be available to your creditors if you are divorced or sued, and they remain taxable.

David M. Frees, III
Attorney, Speaker and Author