MLchartDataset catalogue

Inter vivos trust

Term · Law · MLC-T-LAW-002689

A legal arrangement established during the settlor's lifetime, transferring assets to a trustee for the benefit of designated beneficiaries. This trust becomes effective immediately upon its creation, unlike a testamentary trust which takes effect upon death. Assets held in an inter vivos trust typically avoid the probate process.

Table 1. Record
IdentifierMLC-T-LAW-002689
FieldLaw
Record as JSON 
{
  "id": "MLC-T-LAW-002689",
  "term": "Inter vivos trust",
  "field": "Law",
  "definition": "A legal arrangement established during the settlor's lifetime, transferring assets to a trustee for the benefit of designated beneficiaries. This trust becomes effective immediately upon its creation, unlike a testamentary trust which takes effect upon death. Assets held in an inter vivos trust typically avoid the probate process.",
  "url": "https://mlchart.com/terminology/law/inter-vivos-trust/"
}

Record 2,617 of 5,439 in Law terminology (MLC-0107). Request the full dataset.