What does inter vivos trust mean? For example , an inter vivos trust can be established by a living, married couple. She would then take over when the trustor is no longer able to manage his own trust.
A living trust is “revocable,” which means that its provisions. Also known as a living trust , this trust has a duration. Roughly translated inter vivos means ‘between the living’.
In the financial world a gift inter vivos policy relates to an insurance policy used to cover the inheritance tax liability that can arise when your client makes a gift to another person whilst they are alive an absent of any other exemption, potentially liable to inheritance tax for the next years. Estate freezing, income splitting or minimizing executor’s fees and probate tax may be the driving factors for considering an inter vivos trust. The assets are titled in the name of the living trust by the.
An inter vivos trust is effectively a legal document created while the individual for which the trust is drawn up is still living. For an inter vivos trust fun the grantor can serve as both the trustee and beneficiary.