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inter vivos trust

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Inter vivos trust
A trust created between living persons. Antithesis of a testamentary trust.

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.

inter vivos trust

inter vivos trust

A trust established during the granting party's lifetime, rather than by virtue of the party's will.



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In making its determination, the IRS cited Estate of Jorclabl, (19) which considered the terms of an inter vivos trust created by the decedent in which the decedent reserved the power to substitute other assets for those held by the trust, provided that the assets substituted were of equal value to the assets replaced.
5) The gift and GST consequences of including Crummey powers with total discretionary intervivos trusts are similar but not identical to the consequences when a Crummey power is included in the typical irrevocable inter vivos trust (i.
Also called a Living Trust, the Inter Vivos Trust is a legal instrument that permits the transfer of the ownership of the property from the individual to a legal trust, managed by a trustee and held by the homeowner as beneficiary.
 
 
 
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