LIVING TRUST AND REVOCABLE INTER VIVOS TRUST

A trust is a written, legal agreement between the individual creating the trust and the person or institution (the trustee) named to manage the assets held in the trust.  In many cases, it is appropriate for the person creating the living trust (commonly known as a trustor, grantor or settlor) to be the initial trustee until management assistance of the trust is anticipated or required. 

The “Trust Masters Home Protection Agreement” is a revocable living trust.  It is sometimes referred to as a revocable inter vivos trust or a grantor trust.  A revocable living trust may be amended or revoked by the person creating it, at any time during the trustor’s lifetime, as long as the trustor is competent.