What type of trust is established by a living trustor to convey legal title of property to a trustee?

A living trust is a type of trust established during the lifetime of the trustor (the person creating the trust) to manage and distribute their assets. The key feature of a living trust is that it conveys legal title of property to a trustee who manages the trust assets according to the terms laid out in the trust agreement. This allows for the smooth transfer of assets upon the trustor's death, while also avoiding the probate process, which can be lengthy and costly.

Living trusts can be either revocable or irrevocable. The term "revocable trust" refers to the trustor's ability to alter or dissolve the trust at any time before their death, while "irrevocable trust" indicates that once established, it cannot be changed or terminated without the consent of the beneficiaries. However, the question specifically asks for the type of trust established to convey legal title of property, and a living trust encompasses this capacity, being set up primarily to manage or distribute assets while the trustor is alive.

In contrast, a testamentary trust is formed as part of a will and only takes effect after the trustor's death, which does not fit the scenario described. This is why the answer identifying the living trust as the correct choice aligns with the function