Inter Vivos Trust (Noun)
Meaning
A trust created and operating during the grantor's lifetime.
Classification
Nouns denoting possession and transfer of possession.
Examples
- An inter_vivos trust was created by the wealthy individual during her lifetime to manage and distribute her assets.
- The attorney advised his client to establish an inter_vivos trust to ensure her children's well-being while she was still alive.
- John established an inter_vivos trust, also known as a living trust, to control his estate's assets and prevent potential family conflicts after his passing.
- Mary set up an inter_vivos trust for the benefit of her husband and children, thereby transferring assets while maintaining a certain degree of control.
- Setting up an inter_vivos trust proved beneficial to Sarah as she got older and more assets came under the management of this irrevocable living arrangement.