How to pass the cottage to the kids May 22, 2008
Transfer the property to an inter vivos trust. If you're transferring ownership to a minor child or grandchild, or if you simply want maximum control over the property during your lifetime, a trust set up during your lifetime may be your best option. (Globe and Mail -- Business)
The Transferable IHT Nil-Rate Band. By Matthew Hutton Jan 3, 2008
cases where it is desired, perhaps for non-tax reasons, to have two relevant property NRB trusts for children/grandchildren going forward, the one established under the Will of the first to die and the other set up inter vivos by the survivor; and. the situation where a relevant property trust is set up with 600,000 (or whatever twice the NRB then is) on the second death. (Accounting Web, UK)
'Giving while living' takes death out of the inheritance equation Aug 24, 2007
The merely affluent people who saved and invested well, made money off modest homes they lived in for decades and then sold for several times what they paid are among those giving inter vivos (Latin for "giving amid life"), wealth advisers say. Some who saved and invested well are even helping their grown children who earn far more than the parents ever did, says Randy Carver of Carver Financial Services in Mentor, Ohio. (USA Today -- Money)
Philanthropy Camp Jun 14, 2007
Leonard Kaplan of Greensboro, N.C., sold a cleaning chemicals company in 1994 and, in that transaction alone, walked away with $38 million. He and his wife, Tobee, had always been civic-minded; they gave to United Way, Hillel Foundation and the Boy Scouts. (Forbes)
Canetic Resources Trust announces strong year-end operating and financial results and reserves for 2006 Mar 9, 2007
5% Debentures") on May 26, 2005. The StarPoint 6.5% Debentures mature on July 31, 2010 and are convertible at any time, at the option of the holder, into the trust units of Canetic at a conversion price of $18.96 per trust unit. The StarPoint 6.5% Debentures are not redeemable at the option of the Trust on or before July 31, 2008. After July 31, 2008, and prior to the maturity date, the StarPoint 6.5% Debentures may be redeemed in whole or in part, at a price of $1,050 per debenture after July... (PR Newswire)
All in the family trust Mar 3, 2007
There are two general types of trusts: Inter vivos trusts (created during the lifetime of the settlor), and testamentary trusts (which are created upon the death of an individual, by the person's will). Inter vivos trusts are taxed at the highest marginal tax rate on all income of the trust, while testamentary trusts are taxed at the same graduated rates as any individual. (Globe and Mail -- Business)
Money news and notes Feb 25, 2007
Inter vivos: From the Latin, meaning "during the life of." A living trust is called an inter vivos trust because it takes effect while you're living. By contrast, a will takes effect when you die. (AZCentral -- Business)
- David Lipsey Feb 12, 2007
You can avoid the tax by gifts inter vivos. Schemes are rife that allow couples to take advantage of two 285,000 tax-free allowances and not one. (Guardian Unlimited)
