A living trust—also known as an inter vivos trust—is a trust that is created and takes effect during the lifetime of the person who creates the trust and places assets in it (the grantor or settlor). The beneficiaries named in the living trust will receive the assets or the income from the assets, as provided by the trust agreement.

The living trust will name a trustee (and possibly successor trustees) to manage and administer the trust.

A living trust is in contrast with a testamentary trust that is created by a will and takes effect when the grantor or settlor (the testator who made the will) dies.

In Connecticut, a living trust, or inter vivos trust, is a legal arrangement created during a person's lifetime, allowing them to control their assets and provide for beneficiaries without going through probate upon death. The person who creates the trust (the grantor or settlor) transfers ownership of their assets to the trust and can specify how the assets are to be managed and distributed. The trust is managed by a trustee, whom the grantor appoints, and this trustee has a fiduciary duty to manage the trust assets in the best interests of the beneficiaries. Connecticut law provides the framework for the creation and administration of living trusts under the Connecticut Uniform Trust Code. Living trusts in Connecticut can be revocable, allowing the grantor to alter or revoke the trust during their lifetime, or irrevocable, which generally cannot be changed once established. This type of trust is distinct from a testamentary trust, which is created by a will and only comes into effect after the grantor's death. Living trusts are often used to avoid probate, manage assets in the event of incapacity, and maintain privacy regarding the distribution of assets.