/ˈlɪvɪŋ trʌst/ – Phrase
Definition: sở hữu tín thác có hiệu lực khi người thiết lập còn sống.
A more thorough explanation: A living trust, also known as a revocable trust or inter vivos trust, is a legal arrangement in which an individual (the grantor) transfers ownership of assets into a trust during their lifetime. The grantor retains control over the assets and can amend or revoke the trust at any time. Upon the grantor’s death, the assets held in the trust are distributed to the beneficiaries according to the terms specified in the trust document, without the need for probate.
Example: A living trust is a legal document that allows an individual to transfer their assets into a trust during their lifetime, with specific instructions on how those assets should be managed and distributed after their death.