A trust that goes into effect during the grantor's lifetime is called:

Question

Quizplus · Accepted Answer

An inter vivos trust, also known as a living trust or revocable trust, goes into effect during the grantor's lifetime and can be altered or revoked by the grantor. In contrast, a testamentary trust is created in the grantor's will and only goes into effect upon the grantor's death, while an irrevocable trust cannot be altered or revoked by the grantor once it is established. "Anos durente" is not a recognized legal term.

A Trust That Goes into Effect During the Grantor's Lifetime