living trust
–noun | a trust that takes effect during the lifetime of the settlor. |
Financial Dictionary
living trust
- A trust created for the trustor and administered by another party during the trustor's lifetime. The living trust may be formed because the trustor is either incapable of managing or unwilling to manage his or her assets. The trust can be revocable or irrevocable, depending upon the trustor's wishes. Also called inter vivos trust.
Wall Street Words: An A to Z Guide to Investment Terms by David L. Scott.
Copyright © 2003. Published by Houghton Mifflin.
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Legal Dictionary
Main Entry:
living trustsee
TRUST
Merriam-Webster's Dictionary of Law, © 1996 Merriam-Webster, Inc.
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