inter vivos trust

A trust created during the lifetime of the trustor.

Investopedia Says:
Also known as a living trust, this trust has a duration that is deemed at the trust's creation and can entail the distribution of assets to the beneficiary during or after the trustor's lifetime. Typically these trusts are created because the beneficiary is unable or unwilling to manage the gifted assets personally.

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Trust established between living persons, for instance, between father and child; also called living trust. In contrast, a Testamentary Trust goes into effect when the person who establishes the trust dies.

Trust that is established by people still alive. See also Estate Planning; Estate Planning Distribution.

Trust set up during one's lifetime.