living trust

noun

: a trust that becomes effective during the lifetime of the settlor

called also inter vivos trust

Examples of living trust in a Sentence

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Even a basic estate plan involving a revocable living trust requires retitling accounts and updating beneficiaries after the documents are completed. —

Brian Niksa, Forbes, 9 Oct. 2024 Payable-on-death accounts might be a solution for people with simple situations and too few resources to justify a living trust. —

Liz Weston, Los Angeles Times, 6 Oct. 2024 However, if the property was owned in a living trust, which is a common estate planning method, the trust agreement will appoint a new trustee who can sign the deed at closing without waiting for probate. —

Gary Singer, Sun Sentinel, 11 July 2024 The good news is that updating a living trust typically costs a lot less than setting it up in the first place. —

Liz Weston, San Diego Union-Tribune, 31 Mar. 2024 See all Example Sentences for living trust