Which type of trust allows the trustor to maintain control during their lifetime?

The choice of a revocable inter vivos trust is correct because this type of trust is specifically designed to allow the trustor, or creator of the trust, to retain control over the trust assets during their lifetime. The trustor can make changes to the trust terms, revoke the trust entirely, or withdraw assets as they see fit. This flexibility is a fundamental characteristic of revocable trusts, as they are often used for estate planning purposes to avoid probate and manage assets during the trustor's life.

In contrast, an irrevocable trust results in the trustor relinquishing control over the assets placed within the trust. Once established, the trustor cannot alter the terms or regain ownership of the assets, which can be beneficial for tax and asset protection strategies but does not allow for ongoing control.

A testamentary trust comes into effect after the trustor's death, as it is created by the terms of a will. Therefore, the trustor cannot maintain control over it during their lifetime.

Charitable trusts are established for charitable purposes and typically do not allow the trustor to retain control in the same manner as a revocable inter vivos trust does. Thus, while charitable trusts have their benefits, they do not serve the purpose of allowing control during the trustor