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 Hawaii, a living trust, or inter vivos trust, is a legal arrangement where a grantor places assets into a trust to be managed by a trustee for the benefit of designated beneficiaries during the grantor's lifetime. The trust is governed by the terms set out in the trust agreement. Living trusts in Hawaii are commonly used to manage assets, avoid probate, and maintain privacy, as the details of a living trust are not made public unlike a will. The trust document will name a trustee who is responsible for managing the trust assets according to the trust's terms, and may also name successor trustees to take over if the original trustee is unable to serve. Living trusts in Hawaii are revocable unless explicitly stated otherwise, meaning the grantor can change or terminate the trust during their lifetime. This is distinct from a testamentary trust, which is established upon the death of the individual and is part of a will. The creation and administration of living trusts in Hawaii are subject to state law, and it is advisable for individuals to consult with an attorney to ensure that the trust is properly established and meets their estate planning goals.