living trust
Definition
Revocable trust created by transfer or gift of property from its living creator (trustor) to one or more beneficiaries as an estate planning device. Its main objective is to avoid probate, or to achieve a speedy-transfer of assets. However, it does not protect the trust assets from the trustor's creditors.
living trust is in the Corporate, Commercial, & General Law subject.
living trust appears in the definitions of the following terms: residuary trust, joint trust, sprinkling trust, Clifford trust and trust
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