question.jpgIn Trusts and Estates

What is a transfer in trust?

A transfer in trust is one of the two ways that an inter vivos trust, also known as a living trust, can be set up. Also known as a conveyance in trust, this is where the person setting up the trust (the settlor) puts someone else in charge of controlling and maintaining the property of the trust (that is, transfers the legal title to that person, making them the trustee). With a transfer of trust, the settlor can retain the equitable title, or give that away too.

The other way an inter vivos trust can be set up is by a declaration of trust.