Meaning of “living trust” in the English Dictionary

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"living trust" in Business English

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living trustnoun [ C ]

uk us 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.

(Definition of “living trust” from the Cambridge Business English Dictionary © Cambridge University Press)