MLchartDataset catalogue

Revocable living trust

Term · Law · MLC-T-LAW-004319

A legal arrangement created during an individual's lifetime, where assets are transferred to a trustee for the benefit of designated beneficiaries. The grantor retains the right to modify, amend, or terminate the trust at any time before their death. This type of trust avoids probate, unlike assets distributed through a will.

Table 1. Record
IdentifierMLC-T-LAW-004319
FieldLaw
Record as JSON 
{
  "id": "MLC-T-LAW-004319",
  "term": "Revocable living trust",
  "field": "Law",
  "definition": "A legal arrangement created during an individual's lifetime, where assets are transferred to a trustee for the benefit of designated beneficiaries. The grantor retains the right to modify, amend, or terminate the trust at any time before their death. This type of trust avoids probate, unlike assets distributed through a will.",
  "url": "https://mlchart.com/terminology/law/revocable-living-trust/"
}

Record 4,385 of 5,445 in Law terminology (MLC-0107). Request the full dataset.