inter vivos trust

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Related to inter vivos trust: testamentary trust, cy pres doctrine, Irrevocable trust

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

See living trust.

Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.

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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References in periodicals archive ?

(114) As noted above, an important advantage to inter vivos trusts is that they can be funded during life and used to administer, invest, and distribute assets during and even after a settlor loses capacity.

Forfeiting trust

Sieh, decedent husband created an inter vivos trust prior to his marriage, retaining the power to revoke the trust.

Grim fairy tales: studies of wicked stepmothers, poisoned apples, and the elective share

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.

Tenancy by the entirety gets a boost: spouses no longer must choose between the protection against creditors provided by tenancy by the entirety and the estate-planning advantages of a revocable inter vivos trust

All property included in the decedent's probate estate or made payable to the inter vivos trust will be divided in accordance with the formula clause in the trust agreement.

Chapter 24: Marital deduction and bypass--trusts

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.

Past and future: attempts to prospectively alienate property

2003) ("With the increase in the use of revocable inter vivos trusts as will substitutes, no-contest clauses ...

Forfeiting trust

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.3d 249 (Del.

Case law opens options for trusts looking to minimize state income taxes

Total discretionary inter vivos trusts (1) provide a variety of benefits.

Considerations when combining Crummey powers with total discretionary trusts

This inter vivos trust is revocable; Russ can always revoke the trust and repossess the property or change the terms of the trust.

Chapter 28: Revocable trust

American law is finally beginning to clarify and refine rules concerning capacity to create, amend, and revoke inter vivos trusts, recognizing that the degree of capacity to create a revocable trust should be no higher than that to execute a will.(13) The creation of an irrevocable inter vivos trust should depend on whether the trust is purely donative, in which case a gift standard is appropriate,(14) or whether it is part of a negotiated or adversary transaction, for which the higher contract standard would be appropriate.(15)

Significant trends in the trust law of the United States

Further, the draft Act allows for the revocation of a revocable inter vivos trust by will.(158)

Changes in the role and the form of the trust at the new millennium, or, we don't have to think of England anymore

8843004, the decedent bequeathed his entire estate to an existing inter vivos trust. The trust provided that 50% of the net income was to be paid to the surviving spouse, with the remaining income payable to the surviving spouse at the trustees' discretion.

Q-TIP trusts and loss of marital deduction

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