living trust

American  

noun

1. a trust that takes effect during the lifetime of the settlor.

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Example Sentences

“A revocable living trust is one of the most common types of trusts used in estate planning,” it adds.

From MarketWatch

A living will and/or living trust can also provide additional instructions.

From MarketWatch

Their home, worth about $2 million, is paid off and in a living trust for their two sons and their families.

From The Wall Street Journal

First, a living trust can provide more privacy than a will by avoiding the publicity of a court-supervised probate administration.

From Salon

Dear Liz: My husband agreed to serve as successor trustee for his brother’s living trust several years ago.

From Los Angeles Times