Categories: Estate Planning

Living Trust (also known as an inter vivos trust) – A trust agreement that is prepared, signed, and funded by an individual with assets while he or she is still alive, in order to allow for continuing management of the assets held by the trust (and managed by a trustee named therein) after the death of the person as well as to avoid probate for all assets owned by the trust or on which the trust was designated as the pay-on-death or transfer-on-death beneficiary.

Synonyms:
vivos trust