What does "inter vivos" refer to in legal terms?

In legal terms, "inter vivos" refers specifically to activities, transactions, or gifts carried out during a person's lifetime. This is a critical concept in various areas of law, including estate planning and property law, as it distinguishes between transfers made while the individual is alive and those enacted upon their death, such as wills or bequests. The term is derived from Latin, meaning "between the living," emphasizing that the action must occur while the individual is still alive, impacting how assets and legal rights are treated before death. Understanding this concept is essential for professionals in legal fields, especially when dealing with matters of property transfer, tax implications, and the rights of beneficiaries.