Definition of inter vivos trust

from the Latin, "between the living," a gift of property from one living person to another, as opposed to a testamentary trust created by a will. Also called living trust.

trust established between living persons, for instance, between father and child; also called living trust. In contrast, a testamentary trust goes into effect when the person who establishes the trust dies.

trust established between living persons-for instance, between father and child. In contrast, a testamentary trust goes into effect when the person who establishes the trust dies. Also called living trust.

trust set up during one's lifetime.