What is an inter vivos trust?

An inter vivos trust, also known as a living trust, is a legal tool used in asset protection law in the District of Columbia. It is a type of trust set up during the lifetime of the grantor, or creator of the trust. It differs from a testamentary trust, which is created upon the death of the grantor through a will. An inter vivos trust allows the grantor to transfer property and assets into the trust while they are still alive, protecting those assets from being taken away from the grantor. It also allows the grantor to decide who will receive the trust’s assets after their death. Additionally, the grantor can direct how the trust’s assets are used and for what purpose, such as for their benefit or for the benefit of a designated beneficiary. The purpose of an inter vivos trust is to protect the grantor’s assets from being taken in the event of a lawsuit, or from government programs such as Medicaid. It can also help to avoid federal estate taxes on the grantor’s estate, and it can provide privacy as the trust documents are not part of public records. When setting up an inter vivos trust, there are a few key things to consider. First, the grantor should hire an experienced attorney to assist in the formation of the trust. They should also consider appointing a reliable and trustworthy person to act as the trustee of the trust. The grantor should also consider the assets that will be included in the trust and how long the trust will last for.

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What is an inter vivos trust?

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