Inter vivos definitions
| Word backwards | retni soviv |
|---|---|
| Part of speech | Inter vivos is a Latin phrase that has been adopted into English as a legal term. It is an adjective phrase. |
| Syllabic division | in-ter vi-vos |
| Plural | The plural of the word "inter vivos" is "inter vivos." It is a Latin phrase that means "between the living," and does not change when pluralized. |
| Total letters | 10 |
| Vogais (3) | i,e,o |
| Consonants (5) | n,t,r,v,s |
Inter vivos, a Latin term meaning "between the living," refers to transactions or gifts made during one's lifetime, as opposed to those that take effect after death. These inter vivos transfers can include gifts, trusts, and other forms of estate planning that are implemented while the individual is still alive.
Key Benefits
One of the primary advantages of inter vivos transfers is that they can help individuals avoid probate, a lengthy and costly legal process that occurs after death. By transferring assets while alive, individuals can ensure that their beneficiaries receive their inheritance more quickly and efficiently.
Asset Protection
Inter vivos transfers can also be used as a strategy for asset protection. By moving assets out of one's estate and into a trust or other entity, individuals can shield them from creditors, lawsuits, and other potential risks. This can be especially valuable for individuals in professions that have a high risk of liability.
Tax Planning
Another key benefit of inter vivos transfers is tax planning. By making gifts during one's lifetime, individuals can take advantage of gift tax exemptions and reduce the overall tax burden on their estate. This can be especially important for individuals with large estates who may be subject to estate taxes.
Overall, inter vivos transfers can be a valuable tool for individuals looking to plan their estates, protect their assets, and minimize tax liabilities. By working with a qualified estate planning attorney or financial advisor, individuals can create a comprehensive plan that meets their specific needs and goals.
Inter vivos Examples
- The inter vivos transfer of property was completed smoothly.
- We need to consult a lawyer for advice on inter vivos gifts.
- The siblings decided to split the inheritance through an inter vivos trust.
- The inter vivos trust was established to ensure financial security for the children.
- Her inter vivos donation to the charity helped fund their new program.
- The inter vivos agreement was signed in the presence of witnesses.
- The inter vivos transfer of assets was part of the estate planning process.
- He set up an inter vivos revocable trust to manage his assets.
- The inter vivos deed was recorded at the county courthouse.
- She received an inter vivos gift of cash from her grandparents.