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.
Mentioned in these definitions
Popular 'Corporate, Commercial, & General Law' Terms
living trust in the news
This content can be found on the following page:
http://www.businessdictionary.com/definition/living-trust.html







