Living Trust说的是Settlor活着的时候设置的Trust。与之相对应的是Testamentary Trust，说的是通过遗嘱Will设置的Trust，这种Trust是在立遗嘱的人去世之后才会开始生效。

Revocable or Irrevocable Trust，说的是Trust是否可以被撤销。

另外还有Fixed Trust和Discretionary Trust。Fixed Trust说的是受益人的利益是明确且固定的，比如两个受益人，每人各50%。Discretionary Trust只是指定受益人，具体分多少利益由Trustee，根据Letter of Wishes和具体情况决定。

参考IRAS的网页，满足条件的Trust应该是Living Irrevocable Fixed Trust，受益人的利益不能加任何条件。IRAS网页有几个例子，一个是孩子要21岁，一个是要大学毕业，有了这些条件的Trust，都不符合要求。

明确的实益拥有者 identifiable individual beneficiary：

An identifiable individual beneficiary of a trust for whom an estate or interest in residential property is held on trust, is an individual —

(a) who is identified in the declaration of trust as a beneficiary of the property whether solely or together with another; and

(b) who, because of the trust, has beneficial ownership of the property (whether solely or together with another) that is not, under the terms of the trust, revocable, variable, or subject to any condition subsequent,

but excludes an individual who is entitled to any estate or interest in property in remainder or reversion.

The following are not considered to be an identifiable individual beneficiary:

(a) an individual who has not been born on the date of declaration of the trust;

(b) an individual who is entitled only to the income of the property under the trust;

(c) an individual whose estate or interest in the property under the trust is a contingent or discretionary interest, or who becomes entitled to an estate or interest in the property only upon revocation of the trust.