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What is an Inter Vivos Trust?

Answer #526 -- ( Published 03/20/2006 03:51 PM | Updated 07/12/2017 10:38 AM )

What is an Inter Vivos Trust?

An Inter Vivos Trust is one created by a living person for the benefit of another person. Also known as a living trust, this trust has a duration that is determined at the trust's creation and can entail the distribution of assets to the beneficiary during or after the trustor's lifetime. A parent who sets up an education fund for a child's college education is an example of an Inter Vivos Trust.

The opposite of an Inter Vivos trust is a testamentary trust, which goes into effect upon the death of the trustor.

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