Gift Inter Vivos
This type of gift has two major benefits. The first is that since the gift was given prior to death, it is not considered part of the estate and is therefore not subject to probate taxes. Also, if given as a donation to a charitable foundation, the gifter can use the value amount as a tax credit on his/her tax return.
Investment dictionary. Academic. 2012.
Look at other dictionaries:
gift inter vivos — see gift Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 … Law dictionary
gift inter vivos — /ˌgɪft ɪntə vi:vəυs/ noun a gift given to another living person. Abbreviation GIV … Dictionary of banking and finance
gift inter vivos — A real gift. A gift between living persons; a voluntary transfer of property by one living person to another living person, without any valuable consideration, which becomes absolute and irrevocable during the lifetime of the parties. 24 Am J1st… … Ballentine's law dictionary
gift inter vivos — A piece of property or asset given from one living person to another. Bloomberg Financial Dictionary … Financial and business terms
inter vivos — in·ter vi·vos / in tər vī vōs, vē / adv or adj [Late Latin]: between living persons an inter vivos transfer see also donation inter vivos at donation; gift inter vivos at gift; … Law dictionary
inter vivos — in‧ter vi‧vos [ˌɪntə ˈviːvɒs ǁ tər ˈviːvoʊs, ˈvaɪ ] adverb LAW from one living person to another living person: • A joint tenancy is severed if a joint tenant disposes of his interest inter vivos. inter vivos adjective : • an inter vivos gift * * … Financial and business terms
inter vivos — /intar vayvows/ Between the living; from one living person to another. Where property passes by conveyance, the transaction is said to be inter vivos, to distinguish it from a case of succession or devise. So an ordinary gift from one person to… … Black's law dictionary
inter vivos gift — See gift inter vivos … Ballentine's law dictionary
inter vivos — Between living persons. See gift inter vivos … Ballentine's law dictionary
Inter vivos — (Latin, between the living ) is a legal term referring to a transfer or gift made during one s lifetime, as opposed to a testamentary transfer (a gift that takes effect on death).The term is often used to describe a trust established during one s … Wikipedia