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living trust
(redirected from Revocable living trust)

    Also found in: Legal, Acronyms, Wikipedia 0.02 sec.
Living trust
A trust that an individual establishes during the individual's lifetime, enabling the person to control the assets contributed to the trust. Also known as an inter vivos trust.
living trust
A trust created for the trustor and administered by another party during the trustor's lifetime. The living trust may be formed because the trustor is either incapable of managing or unwilling to manage his or her assets. The trust can be revocable or irrevocable, depending upon the trustor's wishes. Also called inter vivos trust.


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