Financial Glossary
Here you’ll find clear and concise explanations of key financial terms and concepts. Our goal is to help you better understand essential topics across the financial world.
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August Jepsen
August Jepsen
Living Trust
A living trust is a legal arrangement established during someone's lifetime that holds and manages assets for designated beneficiaries, allowing the creator (grantor) to specify instructions for asset management and distribution; living trusts help bypass probate court, maintain privacy, and can be either revocable (allowing changes or withdrawal by the grantor) or irrevocable (permanent asset transfer and limited control).