What is a testamentary trust?

🥺 Trusts • Express Private Trusts TRUSTS#007

Legal Definition

A testamentary trust is a trust that takes effect upon the testator's death.

Plain English Explanation

Though someone doesn't always have to die in order for a trust to exist, a "testamentary trust" is the kind that does come into existence once someone dies.

Related Concepts

Can creditors reach trust assets? Do trusts need to be in writing? What are the elements to a valid trust? What factors can impact capacity? What is a secret trust? What is a semi-secret trust?

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