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Free Revocable Living Trust Form | PDF & Word Template | Lawdistrict A living trust (or "inter vivos trust") is a legal document allowing an individual (grantor) to place assets under the management of a trustee, who can be the grantor or another party. The trustee is responsible for safeguarding the trust's assets during the grantor's lifetime. A revocable living trust is an essential legal document that allows individuals to place their assets in a Trust while still alive for their beneficiaries to inherit after their death. Related: What Is a Trust Fund and How Do They Work?
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