Definition - What does Inter Vivos mean?
Inter vivos is a transfer of a possession while a person is alive in the form of a conveyance to another person. An example would be a gift of property that is given during a person's life instead of when they die. It is differentiated from a normal conveyance which is between parties that exchange funds for the property.
Justipedia explains Inter Vivos
Many people choose to transfer assets while they are alive instead of waiting to allow a relative to inherit it when they die due to the ability to avoid an inheritance tax. Sometimes the property is put in a trust in the other person's name rather than giving it to them in full. This is still called inter vivos.
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