Is an inter vivos trust the same thing as a revocable trust?

No, an inter vivos trust is not necessarily the same thing as a revocable trust. However, some inter vivos trusts are also revocable trusts.

What is an inter vivos trust?

An inter vivos trust is a trust that is created by someone who is alive. Inter vivos trusts are also sometimes referred to as “living trusts.” The key is that the trust comes into existence while the creator of the trust is still alive. For example, if you went to a lawyer tomorrow and had a trust created, that trust would be an inter vivos trust because you would still be alive when you created the trust.

The opposite of an inter vivos trust is a testamentary trust. A testamentary trust is a trust created by your will after you die. You sign the will while you are still alive, but the will does not actually do anything until you pass away. Thus, a testamentary trust is not created until you are no longer alive.

Simply put, if you make a trust while you are still alive, then that trust is considered to be an inter vivos trust.

What is a revocable trust?

A trust is revocable if it can be taken back. If you cannot take the trust back, then the trust is irrevocable. An irrevocable trust can potentially be modified through broad agreement of the parties or through a court order, but generally an irrevocable trust is set in stone. On the other hand, a revocable trust can generally be amended or taken back by the grantor for any reason.

Revocable Trust vs Inter Vivos Trust

An inter vivos trust could be either revocable or irrevocable. If you create a trust while still alive and you retain the ability to undo the trust, then you have created an inter vivos, revocable trust. But it is also possible to create an inter vivos, irrevocable trust. It all depends on the language used in your declaration of trust.

If you think you might need a trust, contact a trust attorney for a free consultation.