Trusts that take effect during the grantor's lifetime are known as what?

Trusts that take effect during the grantor's lifetime are known as what?

• A. Testamentary
• B. Intervivos
• C. Revocable
• D. Irrevocable

Answer: (B)

Intervivos trusts are created and operate during the grantor’s lifetime. This timing—taking effect while the grantor is alive—is what distinguishes them from testamentary trusts, which are established by a will and come into existence only after death. While many living trusts are revocable, meaning the grantor can amend or revoke them, the key point here is that they take effect during life, not after.

Intervivos trusts are created and operate during the grantor’s lifetime. This timing—taking effect while the grantor is alive—is what distinguishes them from testamentary trusts, which are established by a will and come into existence only after death. While many living trusts are revocable, meaning the grantor can amend or revoke them, the key point here is that they take effect during life, not after.