1555 Palm Beach Lakes Blvd Suite 1410

West Palm Beach, FL 33401

24/7 Customer Support

Same day response guaranteed

What Is a Testamentary trust? Definition, Uses and Importance.

Jump To Section

Copy the following HTML iframe code to your website:

Share This

A testamentary trust is created by the provisions in a will and typically comes into existence after the writer of the will dies. A testamentary trust is a legal entity that starts upon someone’s death. The will names the trustee to manage assets for beneficiaries and it protects those same things from any risks or dangers they may face during life, such as fires in buildings where someone had businesses located on them; these can cause lots of trouble with lawsuits if not handled properly.

Working Of Testamentary Trust.png
Testamentary trust 2

How Does a Testamentary Trust Work?

A testamentary trust is a trust that’s established in accordance with the instructions contained within your last will and testament. A fiduciary relationship allows for a trustee to manage assets on behalf of beneficiaries who are also known as successors-inheritors or legatees (depending upon how the trust is worded).

« Back to Glossary Index

More Probate Resources

Search for more common probate terms

Get Your Inheritance Money Now!

Our Inheritance Cash Advances help heirs receive a portion of their inheritance payout in just a few days. We then wait and are paid directly out of your share when the estate finally closes. We wait for probate so that you don’t have to. Click below and fill out our short form to receive an advance immediately.

Probate Costs