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Revocable Inter Vivos Trust

Revocable Inter Vivos Trust

Definition

A document under which assets are held in trust for specified beneficiaries during the life of the settlor and the settlor reserves the right to revoke the trust during his or her lifetime. The trust also directs how the income and assets of the trust are to be distributed after the death of the settlor. A revocable inter vivos trust is sometimes referred to as a revocable living trust.

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