Testamentary Trust

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What is a Testamentary Trust?

A trust created by a will that only takes effect after the testator’s death. It is subject to probate and is often used to manage assets for minors or other beneficiaries.

A trust that is established through the provisions of a will and takes effect upon the death of the testator. Unlike a living trust, which is created during the grantor’s lifetime, a testamentary trust is typically used to manage and distribute assets to beneficiaries over time, often for minors or individuals unable to manage their inheritance. The trust’s terms are outlined in the will and must go through the probate process.

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