Testamentary Trust
/ˌtɛstəˈmɛnˌtɛri ˈtrʌst/
Definitions
- (n.) A trust created under a will that takes effect upon the testator's death.
The will established a testamentary trust to manage the minor children's inheritance.
Forms
- testamentary trust
- testamentary trusts
Related terms
See also
Commentary
Testamentary trusts must be created through a valid will and differ from inter vivos trusts, which are set up during a person's lifetime.
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