LIVING TRUST
\lˈɪvɪŋ tɹˈʌst], \lˈɪvɪŋ tɹˈʌst], \l_ˈɪ_v_ɪ_ŋ t_ɹ_ˈʌ_s_t]\
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A trust you can set up during your life. Living trusts are an excellent way to avoid the cost and hassle of probate because the property you transfer into the trust during your life passes directly to the trust beneficiaries after you die, without court involvement. The successor trustee--the person you appoint to handle the trust after your death--simply transfers ownership to the beneficiaries you named in the trust. Living trusts are also called "inter vivos trusts."
By Oddity Software
Word of the day
Dopamine Acetyltransferase
- An enzyme that catalyzes the of groups from acetyl-CoA to arylamines. They have wide specificity for aromatic amines, particularly serotonin, and can also catalyze acetyl transfer between arylamines without CoA. EC 2.3.1.5.