living trust

Definition of "living trust"
  1. A trust established during a person's life to skip probate at death; it could potentially lessen federal estate tax
How to use "living trust" in a sentence
  1. The couple set up a living trust to safeguard their properties from probate after their demise.
  2. In order to minimize federal estate tax, he chose to create a living trust.
  3. Instead of a will, she decided to establish a living trust to ensure smoother distribution of her assets.

Provide Feedback
Browse Our Legal Dictionary
# A B C D E F G H I J K L M N O P Q R S T U V W X Y Z