MLchartDataset catalogue

Living trust

Term · Law · MLC-T-LAW-003080

A legal document, also known as an inter vivos trust, created during an individual's lifetime to hold assets for the benefit of designated beneficiaries. The grantor typically serves as the initial trustee and beneficiary, retaining control over the assets. This trust avoids probate upon the grantor's death.

Table 1. Record
IdentifierMLC-T-LAW-003080
FieldLaw
Record as JSON 
{
  "id": "MLC-T-LAW-003080",
  "term": "Living trust",
  "field": "Law",
  "definition": "A legal document, also known as an inter vivos trust, created during an individual's lifetime to hold assets for the benefit of designated beneficiaries. The grantor typically serves as the initial trustee and beneficiary, retaining control over the assets. This trust avoids probate upon the grantor's death.",
  "url": "https://mlchart.com/terminology/law/living-trust/"
}

Record 3,039 of 5,439 in Law terminology (MLC-0107). Request the full dataset.