Which term means a trust created during the grantor's lifetime?

Which term means a trust created during the grantor's lifetime?

• A. Grantors
• B. Common law
• C. Inter vivos
• D. Codified

Answer: (C)

Inter vivos means created during the grantor’s lifetime. It’s a living trust, as opposed to a testamentary trust that comes into existence only after death through a will. Because it’s funded and operative while the grantor is alive, it can be revocable or irrevocable and is often used to manage assets during incapacity or to avoid probate. The other terms don’t describe timing: grantors refers to the person who creates the trust; common law is a broader body of law; codified means written into statutes. So the term that fits “trust created during the grantor’s lifetime” is inter vivos.

Inter vivos means created during the grantor’s lifetime. It’s a living trust, as opposed to a testamentary trust that comes into existence only after death through a will. Because it’s funded and operative while the grantor is alive, it can be revocable or irrevocable and is often used to manage assets during incapacity or to avoid probate.

The other terms don’t describe timing: grantors refers to the person who creates the trust; common law is a broader body of law; codified means written into statutes. So the term that fits “trust created during the grantor’s lifetime” is inter vivos.