living trust

living trust
noun Date: 1873 a trust that becomes effective during the lifetime of the settlor — called also inter vivos trust

New Collegiate Dictionary. 2001.

Look at other dictionaries:

  • living trust — see trust Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. living trust …   Law dictionary

  • Living trust — A living trust (inter vivos trust) is a trust created during a person s lifetime. Living Trusts in the United StatesIn the United States, a living trust refers to a trust that may be revocable by the trust creator or settlor (known by the IRS as… …   Wikipedia

  • living trust — A trust that an individual establishes during the individual s lifetime, enabling the person to control the assets contributed to the trust. Also known as an inter vivos trust. Bloomberg Financial Dictionary * * * living trust living trust ➔… …   Financial and business terms

  • Living Trust — A property interest created during a person s life that allows easy transfer of assets without going through the process of probate. A living trust is an agreement where the trustee holds the legal possession of a fund or assets that belong to… …   Investment dictionary

  • living trust — noun a trust created and operating during the grantor s lifetime • Syn: ↑inter vivos trust • Hypernyms: ↑trust * * * noun : a trust created by the transfer of property by its owner to a living or existing person to hold as trustee : a trust inter …   Useful english dictionary

  • living trust — a trust that takes effect during the lifetime of the settlor. Also called trust inter vivos. Cf. testamentary trust. * * * …   Universalium

  • living trust — An active trust. Also, a trust inter vivos …   Ballentine's law dictionary

  • revocable living trust — A trust set up during life that can be revoked at any time before death. Revocable living trusts are a common and excellent way to avoid the cost and hassle of probate, because the property held in the trust during life passes directly to the… …   Law dictionary

  • trust — n 1 a: a fiduciary relationship in which one party holds legal title to another s property for the benefit of a party who holds equitable title to the property b: an entity resulting from the establishment of such a relationship see also… …   Law dictionary

  • trust declaration — See: declaration of trust Category: Wills, Trusts & Estates → Estate Tax Category: Wills, Trusts & Estates → Living Wills & Medical Powers of Attorney Nolo’s Plain English Law Dictionary. Gerald N. Hill, Kathleen Thompson Hill. 2009 …   Law dictionary

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