MLchartDataset catalogue

Revocable trust

Term · Law · MLC-T-LAW-004320

A legal arrangement where the grantor transfers assets to a trustee for the benefit of designated beneficiaries, while retaining the power to alter, amend, or terminate the trust during their lifetime. The assets held within this trust remain under the grantor's control and are considered part of their taxable estate upon death. This type of trust does not offer protection from creditors during the grantor's life.

Table 1. Record
IdentifierMLC-T-LAW-004320
FieldLaw
Record as JSON 
{
  "id": "MLC-T-LAW-004320",
  "term": "Revocable trust",
  "field": "Law",
  "definition": "A legal arrangement where the grantor transfers assets to a trustee for the benefit of designated beneficiaries, while retaining the power to alter, amend, or terminate the trust during their lifetime. The assets held within this trust remain under the grantor's control and are considered part of their taxable estate upon death. This type of trust does not offer protection from creditors during the grantor's life.",
  "url": "https://mlchart.com/terminology/law/revocable-trust/"
}

Record 4,386 of 5,445 in Law terminology (MLC-0107). Request the full dataset.