Living Trust

Living Trust

by Richard C. Wilson & Family Offices Group Association Team

Family Office Definition: Living Trust

Living Trust definition:  A living trust is created and funded during the grantor’s lifetime. (As opposed to a testamentary trust, which is created following a grantor’s death.)  The grantor is responsible for income taxes for a living trust. A living trust is not subject to probate.  Another benefit of living trust agreements is that successor trustees can assume management duties before death when it is no longer feasible for the trustor (such as Alzheimer’s disease or other illnesses).

Download our free Family Office Report to learn more about the family office industry.

Read more Family Office Definitions

Tags: What is living trust?, living trust definition, living trust family office, living trust term, define living trust, living trust wealth management, living trust multi-family office, living trust single family office

Leave Your Response

* Name, Email, Comment are Required

We run the Family Offices Group, the #1 largest family office association with 84,000+ global members. We offer live events, a bestselling book, Webinars, a family office database, and a family office training & certificate program called the Qualified Family Office Professional (QFOP). To get to know us please watch this 2 minute video, and contact us any time during pacific business hours by calling (212) 729-5067 or emailing us at Clients@FamilyOfficesGroup.com.

Free Family Office Report (PDF)

Contact Details for 1,000 Family Offices in Excel