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Bequests, Inter Vivos Transfers, and Form
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People also ask
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What is the meaning of inter vivos transfer?
An inter vivos transfer is a legal term that refers to the transfer of property or assets from one person to another during their lifetime. This type of transfer can be contrasted with a testamentary transfer, which is a transfer made in a will after death. -
What is a gift inter vivos?
A gift inter vivos, a gift between the living in Latin, is the legal term that refers to a transfer or gift made during the grantor's life. Inter vivos gifts, which include property related to an estate, are not subject to probate taxes since they are not part of the donor's estate at death. -
What is the literal meaning of inter vivos?
An inter vivos (which literally means 'between the living') trust is created between living persons. -
What is an inter vivos gift of money?
A gift inter vivos, a gift between the living in Latin, is the legal term that refers to a transfer or gift made during the grantor's life. Inter vivos gifts, which include property related to an estate, are not subject to probate taxes since they are not part of the donor's estate at death. -
What does inter vivos means between two persons?
[ in-ter vahy-vohs, vee- ] show ipa. adverb, adjectiveLaw. (especially of a gift or trust) taking effect during the lifetimes of the parties involved; between living persons. -
What is meant by inter vivos transfer?
An inter vivos transfer is a property transfer that is made during a transferor's lifetime. Living trusts are trusts created during the lifetime of a settlor and are revocable before that settlor's death (see: revocable living trusts). This is also known as an inter vivos trust.
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