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English definition of “living trust”

living trust

noun [C]
 
 
( also formal inter vivos trust)
LAW a legal arrangement which allows someone to give their assets to someone else while they are alive but still keep control of them until they die: You can still control your assets if you put them into a living trust. →  Compare living will , will noun
(Definition of living trust from the Cambridge Business English Dictionary © Cambridge University Press)
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