living trust

noun

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

Example Sentences

Furthermore, beneficiary designations usually override the terms of a will or living trust.

From Los Angeles Times

Dear Liz: Is naming a beneficiary for a nonretirement, “payable on death” account as effective as putting the account in a living trust?

From Los Angeles Times

Simpson’s will, which was filed in Clark County court in Nevada, notes that Simpson’s personal property had been placed into a revocable living trust created in January.

From Los Angeles Times

It notes that Simpson’s personal property had been placed into a revocable living trust created in January.

From Los Angeles Times

Typically, a living trust will be placed in the hands of an attorney who specializes in this type of situation.

From Encyclopedia.com