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inter vivos |
Also found in: Legal, Wikipedia | 0.01 sec. |
inter vivos Latin [ˈɪntə ˈviːvɒs] adj
(Law) Law between living people an inter vivos gift How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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Clients who want certainty as to the tax results of a transfer of art by gift--but hesitate to make a transfer (and possibly pay gift tax) before an IRS ruling--should consider transferring the asset to an inter vivos qualified terminable interest property trust (QTIP) and obtain a valuation ruling under Rev. citizen G establishes and funds an irrevocable inter vivos trust (Trust) for the benefit of G's descendants. These disputes will arise in the form of beneficiary and trustee lawsuits over the proper administration of trust assets, or disputes between beneficiaries as to their entitlement under certain inter vivos or testamentary documents (such as a revocable living trust or a will). |
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