Inter-vivos, or "living" trusts, are powerful legal instruments that are used to protect and manage an individual’s assets. Inter-vivos trusts are established during the lifetime of the trustor, or creator, and allow them to dictate how and when their assets will be passed on to an eventual beneficiary. Upon the trustor’s death, these assets are distributed either according to the wishes of the trustor or as prescribed by the terms of the trust.

Inter-vivos trusts can be especially advantageous if you’re looking to manage your assets while alive and have them transferred not just to a surviving spouse or other close family members upon death, but also to charities or other non-related entities. These trusts help you ensure that your assets are distributed to whom or what you desire while you’re still alive and can also provide tax and estate protection.

One of the biggest benefits of establishing an inter-vivos trust is that it helps avoid the lengthy and often expensive process of probate. Probate is a court process of distributing the assets of a deceased individual in accordance with the terms of his or her will. The process can be long and complicated, so having an inter-vivos trust in place allows the process to be avoided and can facilitate a quicker, more efficient transfer of assets to the named beneficiaries.

The trust can also allow for certain protections for the trustor and the beneficiaries. For example, it can include provisions for protecting funds and assets from creditors should the trustor fall on hard times before it is transferred. It can also protect the assets from the beneficiaries from any creditor or legal claim against them.

In essence, an inter-vivos trust provides the trustor with the ability to distribute their assets to the beneficiaries as they see fit, and to potentially protect both the trustor and the beneficiaries from various legal and financial claims. It can be a valuable tool in estate and financial planning, and should be considered if an individual is looking to ensure that his or her hard-earned assets are distributed according to their wishes, the terms of their trust, and in the most tax-efficient manner possible.