ShmoopTube

00:00

Finance a la shmoop what is inter vivos? inter between vivos part of an Elvis [Dictionary book flicks through pages]

00:11

Presley song okay remember Viva Las Vegas all right

00:15

no vivos means the living an inter vivos is a trust like between the living got

00:23

it so sorry all you zombies with large [Zombie appears]

00:26

inheritances and while you don't qualify well yeah inter vivos really is just

00:31

another word for a living trust an estate-planning vehicle that's set up

00:37

before the trustor has kicked the bucket so that they can transfer their assets

00:42

to trustees without having to you know go through all the probate nonsense

00:47

which cost a fortune and chews up all the money that they could have given to [Money transfers from grave to family]

00:51

their heirs it all goes to lawyers and the state well in other words in an

00:55

inter vivos trust they can keep the courts from getting involved and with an

01:00

inter vivos trust it isn't even necessary to wait until the trustor has

01:05

a you know gone the way of the dodo before those assets are distributed like [Gravestone of Dodo appears]

01:09

they can distribute it before they're dead bequeathed items and/or cash can

01:14

also start being divvied out before the trustors lifetime, although a trustee

01:20

might want to consider signing some kind of no take-backsies contract [No take-backsies contract appears]

01:25

just in case grandpappy start getting trustors remorse

Full Transcript