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 New Hampshire, a living trust, or inter vivos trust, is a legal arrangement where a grantor places assets into a trust during their lifetime. The trust is managed by a trustee for the benefit of designated beneficiaries according to the terms set out in the trust agreement. Living trusts are often used to manage assets and can help avoid probate, which is the legal process of distributing a deceased person's estate. Unlike a testamentary trust, which is established upon the death of the individual and is part of a will, a living trust is effective immediately upon creation and operates during the grantor's lifetime. New Hampshire has adopted the New Hampshire Trust Code, which provides the regulatory framework for the creation and administration of trusts within the state. This includes provisions for the duties of trustees, the rights of beneficiaries, and the requirements for creating a valid trust. It's important for individuals to work with an attorney to ensure that the trust is properly established and meets all legal requirements.