Jurist
A trust created by a writing (declaration of trust) which commences at that time, while the creator (called a trustor or settlor) is alive, sometimes called a “living trust.” the property is then placed in trust with a trustee (often the trustor during his/her lifetime) and distribution will take place according to the terms of the trust-possibly both during the trustor’s lifetime and then upon the trustor’s death. this is different from a testamentary trust, which is created by the terms of a will and places some assets from the dead person’s estate in a trust to exist from the date of death and until fully distributed.
