Voluntary Trust

A voluntary trust is a type of living trust that is created during the lifetime of the trustor and is also known as an inter vivos trust. In a voluntary trust, the trustor retains the legal title of the gift transferred to the beneficiary, even though the beneficiary has actual title and possession and ability to carry out actions of the trust. A voluntary trust is also defined as an obligation arising out of a personal confidence reposed in, and voluntarily accepted by, one individual for the benefit of another. This is in contrast to an involuntary trust, which is created by law.