Inter vivos is a Latin phrase which means “while alive” or “between the living.” This phrase is primarily used in property law and refers to various legal actions taken by a given person while still alive, such as giving gifts, creating trusts, or conveying property. ... This is also known as an inter vivos trust.

What is the meaning of inter vivos trust?

An Inter Vivos Trust is one created by a living person for the benefit of another person. Also known as a living trust, this trust has a duration that is determined at the trust's creation and can entail the distribution of assets to the beneficiary during or after the trustor's lifetime.

What is testamentary transfer?

Testamentary Transfer means a transfer of any Equity Interest of any class in the Distributor or a Parent upon the death of the owner thereof by testamentary bequest or other disposition by the estate of such owner.