WHAT IS A LIVING TRUST?

The “living trust” described in this article is a revocable living trust. It is sometimes referred to as a revocable inter vivos trust, or a grantor trust. A living trust may be amended or revoked by the person creating it (commonly known as a “trustor,” “grantor” or “settlor”), at any time during the trustor’s lifetime, as long as the trustor is competent. A trust is a written legal agreement between the individual creating the trust and the person or institution named to manage the assets held in the trust (the... Read The Rest →