Unfair and Deceptive Acts and Practices: 9.4.5 Living Trusts
A living trust is a legitimate estate planning device that is established when a consumer is alive. In appropriate situations and when properly implemented, it can enable the consumer to control and protect her assets. The living trust, more formally known as an inter vivos trust, is a written agreement between the individual creating the trust and the person or institution that manages the assets held in trust.