Question

A trust under which property is transferred by a living trustor to a trustee with instructions for management of assets and for distribution of income, is known as a(n

Answer 1

inter vivos trust.

Step-by-step explanation:

A trust under which property is transferred by a living trustor to a trustee with instructions for management of assets and for distribution of income, is known as an inter vivos trust. The main purpose of an inter vivos trust is to facilitate the naming of the beneficiaries of assets or property for transfer purposes while the owner is still alive in order to avoid probations.