An Inter Vivos Trust, also known as a living trust, is a legal arrangement established during the lifetime of the grantor, typically for the benefit of another person, such as a child. This differs from a Testamentary Trust, which becomes effective upon the death of the trust creator.
A living trust, also known as an inter vivos trust, is a legal document created and operational during the lifetime of the settlor to manage their assets and streamline the transfer of those assets after their death, thereby avoiding probate.
A testamentary trust is a legal entity created as a result of a will and generally takes effect upon the death of the grantor, in contrast to an inter vivos trust which is established during the grantor's lifetime.
