Inter-Vivos Trust

(redirected from Inter Vivos Trusts)

Inter-Vivos Trust

A trust into which the grantor deposits certain assets for the management by another party while the grantor is still living. That is, the inter-vivos trust is created and maintained before the grantor dies. Generally speaking, an inter-vivos trust exists to help avoid estate taxes after death and other taxes while still living. One may also set up an inter-vivos trust to facilitate long-term property management. It is also called a living trust.
References in periodicals archive ?
Bensing, Inter Vivos Trusts and the Election Rights of a Surviving Spouse, 42 KY.
The traditional rule, endorsed both by the Uniform Law Commissioners and the Restatement, draws no distinction between the formalization of simple gifts and complex trusts: Whether or not a settlor doubles as trustee, and hence whether or not coupled with delivery, inter vivos trusts are valid even when their terms are communicated orally.
The Delaware courts answered the question of a trust with a choice-of-law provision in another of the Peierls decisions, In re Peierls Family Inter Vivos Trusts, 77 A.
TRUSTS: Trusts fall into two categories: Testamentary Trusts (those established by a Will at death) and Inter Vivos Trusts (those established during life):
The new law, says Lisle lawyer Neil Goltermann of Momkus McCluskey LLC, who assisted in drafting the legislation, means married couples will no longer have to forego the protections of holding property as tenants by the entirety to set up and fund inter vivos trusts recommended for their estate plans.
Total discretionary inter vivos trusts (1) provide a variety of benefits.
Joy, in which the courts initially allowed inter vivos trusts to serve as will-substitutes and create post-mortem transfers of property without a will.
Revocable inter vivos trusts, spendthrift trusts, and related topics will also be addressed.
Lawgic said the CD analyzes issues "unique to each client" to create a variety of relevant documents and forms, including revocable inter vivos trusts, stand-alone wills, pour-over wills, trust instruments, durable powers of attorney, and other estate planning documents specific to California and related federal laws.
Helen Wall created three irrevocable inter vivos trusts for the benefit of family members.
In many states, advisers recommend using revocable inter vivos trusts to avoid probate, which are attractive to those who feel that going to a probate court will generate increased expense and complexity.
The state supreme court ruled that the state's tax on the undistributed taxable income of resident testamentary and inter vivos trusts does not violate the Due Process Clause or the Commerce Clause.

Full browser ?