Estate Planning Term of the Week - Living Trust

This week's estate planning term - Living Trust.

The term Living Trust has two distinct meanings:

1. An abbreviated name for a Revocable Trust or a Revocable Living Trust.
2. A type of revocable or irrevocable trust that is created and funded during the Trustmaker's lifetime. Contrast this with a Testamentary Trust, which is a type of irrevocable trust that is created and funded after the Trustmaker's death.

Also not to be confused with a Living Will - the estate planning term from last week - which is a legal document that deals with end of life decisions.

• What is a Revocable Living Trust?
• What is an Irrevocable Trust?
• Revocable vs. Irrevocable Trusts
• Testamentary vs. Living Trusts
• What's the Difference Between a Living Will and a Living Trust?