Inter Vivos


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Inter Vivos

[Latin, Between the living.] A phrase used to describe a gift that is made during the donor's lifetime.

In order for an inter vivos gift to be complete, there must be a clear manifestation of the giver's intent to release to the donee the object of the gift, and actual delivery and acceptance by the donee.An inter vivos gift is distinguishable from a gift causa mortis, which is made in expectation of impending death.

inter vivos

(in-tur-veye-vohs) adj. Latin for "among the living," usually referring to the transfer of property by agreement between living persons and not by a gift through a will. It can also refer to a trust (inter vivos trust) which commences during the lifetime of the person (trustor or settlor) creating the trust as distinguished from a trust created by a will (testamentary trust) which comes into existence upon the death of the writer of the will. (See: inter vivos trust)

INTER VIVOS. Between living persons; as, a gift inter vivos, which is a gift made by one living person to another; see Gifts inter vivos. It is a rule that a fee cannot pass by grant or transfer, inter vivos, without appropriate words of inheritance. 2 Prest. on Est. 64.

References in periodicals archive ?
Lifetime (inter vivos) transfers made to an irrevocable trust are subject to gift tax.
The latter is likewise the case in donation inter vivos.
Even with this, there is very little evidence on the patterns of inter vivos transfers and bequests, let alone the underlying motivations and comparative statics.
Of course, the presumption that the donor intended the gift to take effect upon death is rebuttable and if the donor wishes to make an unconditional, or immediate, gift, the courts will treat it as an inter vivos gift.
(8) The court then cited several Florida cases that have "repeatedly permitted a decedent's children to pursue claims to set aside inter vivos conveyances based upon allegations of undue influence without requiring that the decedent's estate be joined as a party to the suit." (9) The court noted that the defendants had provided no authority to support their position that [section]733.607 makes the estate an indispensable party to an action to set aside inter vivos conveyances.
Once the estate planning team has confirmed that the law that will govern the continuing trusts created by G1 will allow for springing the Tax Trap, it must ensure that Gl's last will and testament, revocable trust or irrevocable inter vivos GST nonexempt trust (governing instrument) is drafted appropriately.
The Inter Vivos Trust in Modern Estate Planning: Benefits
Facts: In 2007, Israel and Erna Mikel each made a $1,631,000 gift to an irrevocable inter vivos family trust with 60 beneficiaries.
Following this, external researcher Jane Yoo presented her work entitled "The Role of Inter Vivos Giving in General Equilibrium." The afternoon concluded with additional practical training.
Adults may postpone making a will if they experience difficulty in weighing up competing needs or predicting future needs; alternatively, mechanisms other than wills such as trusts and inter vivos (2) gifts might be increasingly used to make intergenerational and charitable transfers.
(73) The court held, based on precedent in Massachusetts, that the trust was not testamentary but was a valid inter vivos trust, and even where the donor retained substantial rights and powers over the trust, the trust property in this case would not be included in the estate for the purposes of the widow's elective share.
the alienation inter vivos of the patrimony by appropriation, as legal universality.

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