TERMIUM Plus®

The Government of Canada’s terminology and linguistic data bank.

REVOCABLE LIVING TRUST [1 record]

Record 1 2007-02-26

English

Subject field(s)
  • Law of Estates (common law)
  • Law of Trusts (common law)
DEF

A trust whereby provisions can be altered or canceled dependent on the grantor. During the life of the trust, income earned is distributed to the grantor, and only after death does property transfer to the beneficiaries.

CONT

What is a revocable living trust? A trust is a written agreement that names someone to be responsible for managing property for the benefit of others. A revocable living trust (also called a "living trust" or "revocable trust") is one type of trust. It's a "living" trust because you create it while you're alive. It's "revocable" because, as long as you're mentally competent, you can change or end the trust at any time, for any reason.

OBS

According to the Canadian Dictionary, revocable trust is the preferred spelling.

French

Domaine(s)
  • Droit successoral (common law)
  • Droit des fiducies (common law)
DEF

Fiducie qui peut être résiliée ou modifiée par la personne qui l'a établie.

CONT

[...] une fiducie est dite révocable ou sans droit de regard si le bien transféré ou le bien substitué à celui-ci peut revenir au cédant ou être transféré à des personnes désignées par ce dernier après la création de la fiducie, ou si aucun de ces biens ne peut être aliéné du vivant du cédant sans son consentement.

Spanish

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