inter vivos trust
| Noun | 1. | inter vivos trust - a trust created and operating during the grantor's lifetime |
| 单词 | inter vivos trust | |||
| 释义 | inter vivos trust
inter vivos trustinter vivos trustn. a trust created by a writing (declaration of trust) which commences at that time, while the creator (called a trustor or settlor) is alive, sometimes called a "living trust." The property is then placed in trust with a trustee (often the trustor during his/her lifetime) and distribution will take place according to the terms of the trust---possibly both during the trustor's lifetime and then upon the trustor's death. This is different from a testamentary trust which is created by the terms of a will and places some assets from the dead person's estate in a trust to exist from the date of death and until fully distributed. (See: inter vivos, declaration of trust, trust, testamentary trust) inter vivos trustInter vivos trustInter-Vivos Trustinter vivos trustinter vivos trustA trust established during the granting party's lifetime, rather than by virtue of the party's will. inter vivos trust
Synonyms for inter vivos trust
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