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 Utah, 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 Utah are commonly used for estate planning purposes, as they can help avoid probate, provide privacy regarding the assets and their distribution, and allow for more control over the assets during the grantor's life and after their death. 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 funding. Utah law, including the Utah Uniform Trust Code (found in Utah Code Title 75, Chapter 7), provides the statutory framework for the creation, management, and termination of living trusts. It is advisable for individuals considering setting up a living trust in Utah to consult with an attorney to ensure that the trust is properly established and meets their estate planning goals.