A trust that becomes effective during the settlor's lifetime is a(n)
A) precatory trust.
B) express trust.
C) testamentary trust.
D) inter vivos trust.

Question

Quizplus · Accepted Answer

An inter vivos trust, also known as a living trust, becomes effective during the settlor's lifetime. A precatory trust is not a legally binding trust, an express trust can be either inter vivos or testamentary, and a testamentary trust becomes effective after the settlor's death.

A Trust That Becomes Effective During the Settlor's Lifetime Is