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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
Recent Examples on the Web
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
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Word History
First Known Use
1913, in the meaning defined above
Dictionary Entries Near living trust
Cite this Entry
“Living trust.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/living%20trust. Accessed 23 Nov. 2024.
Legal Definition
living trust
see trust
More from Merriam-Webster on living trust
Britannica.com: Encyclopedia article about living trust
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