Which is it? Family Trust or Living Trust?
Some attorneys use the term “Family Trust” and others use the term “Living Trust.” Which is correct?
The answer is that both are correct. They are synonyms.
In circumstances where the heirs are children or other family members of the person making the Trust, the document will tend to be called a Family Trust.
Where charities or other non-family members are named as heirs, then the arrangement will tend to be called a Living Trust.