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The term is often used to describe a trust established during one's lifetime, i.e., an inter vivos trust as opposed to a testamentary trust that is established on one's death, usually as part of a will. An inter vivos trust, by definition, includes both revocable and irrevocable trusts. [2]
An inter vivos trust is a trust created during the settlor's life. The trustee is the legal owner of the assets held in trust on behalf of the trust and its beneficiaries. The beneficiaries are equitable owners of the trust property. Trustees have a fiduciary duty to manage the trust for the benefit of the equitable owners.
An inter-vivos trust or living trust is a legal arrangement that allows a person to transfer ownership of assets to a trust while they are still alive. Inter-vivos trusts distribute property to ...
Virtually all trusts are made in written form, either through an inter vivos or "living trust" instrument (created while the settlor is living) or in a will (which creates a testamentary trust). Therefore, in understanding certain terms in a trust, general rules of construction regarding interpretation of wills or other testamentary documents ...
An inter-vivos trust or living trust is a legal arrangement that allows a person to transfer ownership of assets to a trust while they are still alive. Inter-vivos trusts distribute property to ...
"Inter vivos" is a Latin phrase that means "during life" or "among the living." An inter vivos gift, otherwise referred to as an inter vivos transfer, refers to any gift or transfer made by ...
In trust law, a trust instrument (also sometimes called a deed of trust, where executed by way of deed) is an instrument in writing executed by a settlor used to constitute a trust. Trust instruments are generally only used in relation to an inter vivos trust; testamentary trusts are usually created under a will. [a]
The response has been to view the secret trust as a disposition inter vivos ("between the living") rather than testamentary under exception. Although the testator is unlikely to consider the trust having come into existence at the time of the will upon his death, whether a disposition is arguably though less convincingly regarded as an inter ...
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