Which term is the name for a trust document in which the trust is revocable and the grantor serves as the trustee?

Which term is the name for a trust document in which the trust is revocable and the grantor serves as the trustee?

• A. Declaration of trust
• B. Inter vivos or living trust
• C. Revocable trust
• D. Irrevocable trust

Answer: (A)

The name for a trust document where the grantor creates the trust by declaring themselves as trustee and keeps the power to revoke is a declaration of trust. This instrument explicitly records that the grantor is declaring property to be held in trust and, in many revocable setups, continues to manage the trust as trustee with the ability to amend or revoke it. The other terms describe the trust’s timing or its revocability, not the document’s title: an inter vivos or living trust refers to when the trust is created (during life) and can be revocable or irrevocable; a revocable trust identifies the trust’s ability to be changed or canceled but not the document’s formal name; an irrevocable trust is simply the opposite in terms of revocability.

The name for a trust document where the grantor creates the trust by declaring themselves as trustee and keeps the power to revoke is a declaration of trust. This instrument explicitly records that the grantor is declaring property to be held in trust and, in many revocable setups, continues to manage the trust as trustee with the ability to amend or revoke it. The other terms describe the trust’s timing or its revocability, not the document’s title: an inter vivos or living trust refers to when the trust is created (during life) and can be revocable or irrevocable; a revocable trust identifies the trust’s ability to be changed or canceled but not the document’s formal name; an irrevocable trust is simply the opposite in terms of revocability.