Making changes to a revocable trust

I'd like to change some of the beneficiaries of my revocable trust, add some real estate to it, and adjust the way the assets will be distributed. Do I have to revoke the trust and draft a new one?

Probably not. Your trust document likely states that you can add property after the drafting date. In that case, you need only make sure the title for the property states that the trust is the owner and then add the real estate to the list of trust assets. However, to change beneficiaries and the way the assets will be distributed, you'll need to add an amendment that details the changes. Sign and date it, and attach it to the trust document.