trusts and estates

Inter Vivos Transfer

An inter vivos transfer is a transfer of property made during a person's lifetime.  It can be contrasted with a testamentary transfer, which is a transfer made in a will after death.  A revocable trust is considered an inter vivos transfer even though the benefit of the trust is not enjoyed by the beneficiary until after the death of the donor beca

 

Taxonomy upgrade extras: 
Keywords: 

Federal Gift Tax

The federal gift tax is a tax levied by the federal government on a donor who transfers property to a donee without the donee giving consideration in return.  The gifted property must be in an amount above the limit set by the federal government in order to be subject to the tax. 

Keywords: 

No Further Inquiry Rule

The No Further Inquiry Rule applies to cases of self-dealing by a trustee. It makes all self-dealing transactions entered into by the trustee per se voidable by the beneficiaries, requiring no proof that such transactions were unreasonable or harmful. The trustee must act for the sole benefit of the beneficiaries.

Taxonomy upgrade extras: 
Keywords: 

Pages

Subscribe to RSS - trusts and estates