Living Trust Definition and Legal Meaning

On this page, you'll find the legal definition and meaning of Living Trust, written in plain English, along with examples of how it is used.

What is Living Trust?

(n) A living trust is the execution of a trust during the life time of trustor where by he forms a trust by transferring his property into that of the trust. Life time trusts are formed to separate a property for a specific cause there by it will not be subject to the general risk and obligations attributable to his or her properties during the life time of the testor.