/ Dictionary / Index L living trust: Meaning and Definition of Find definitions for: liv'ing trust' Pronunciation: [key] a trust that takes effect during the lifetime of the settlor. Also calledCf. testamentary trust. Random House Unabridged Dictionary, Copyright © 1997, by Random House, Inc., on Infoplease. living stones living unit Related Content Daily Word Quiz: hedonist Analogy of the Day: Today’s Analogy Spelling Bee: Today’s Spelling Bee Frequently Misspelled Words Frequently Mispronounced Words Easily Confused Words Writing & Language