Definitions for "Testamentary trust"
Related Terms:
Inter vivos trust, Living trust, Inter-vivos trust, Revocable trust, Revocable living trust, Irrevocable trust, Decedent, Inter vivos, Irrevocable living trust, Pour-over will, Residuary beneficiary, Testamentary, Qualified terminable interest property trust, Bypass trust, Remainderman, Ab trust, Qtip trust, Heirs, Distributee, Residuary, Testamentary trustee, Heir, Ancillary probate, Remainder beneficiary, Marital trust, Intestacy, Successor trustee, Pour over will, Bequest, Settlor, By-pass trust, Qualified personal residence trust, Disclaimer trust, Probate estate, Pretermitted heir, Revocable, Qprt, Intestate succession, Blind trust, Spendthrift trust, A-b trust, Residuary estate, Dynasty trust, Credit shelter trust, Life beneficiary, In testate, Trust, Intestate, Trusts, Testamentary gift
a trust created under the will of an individual, which begins at the death of that individual.
A trust created by the last will and testament of a decedent.
Trust set up by a will. Compare living trust.
Trust established under a will that does not come into existence until after death.
A trust created within a will that does not take effect until the death of the grantor.
A trust established by your will that goes into effect at the time of your death.
A trust set up after a person dies.
trust created within a will. Does not take effect until the death of the grantor. see also inter vivos trust.
Trust that comes into being only as a result of the death of a person whose will provides for the creation of a trust after his or her death.
A testamentary trust is simply a trust established by someone's will. Rather than all the deceased's assets being distributed by the executor upon death, some or all of the assets remain in the trust for the benefit of a specific group of beneficiaries named in the will. Trust income distributed to children, of any age, will be taxed at normal marginal rates, rather than the penalty rates that normally apply to minors' unearned income. Note: the trustee can have full discretion as to who receives trust income and capital or restrictions can be provided. Testamentary Trusts are of benefit: for families with small children where extra income would be needed to support the surviving family members should a parent die where minimising tax is important.
A trust that is created upon death of the grantor.
a trust that is created under a will and that becomes active after the grantor dies
a discretionary trust set up in your will
an instrument that operates like a will, distributing property upon death in the form of a trust
a potential trust that can be placed inside a person's will or revocable trust and activated under certain conditions
a trust contained within a will that holds property for a specific purpose
a trust created according to your will
a trust established by the terms of the will, usually making the executor trustee of the trust
a trust established in a will or living trust that is funded upon the death of the settlor
a trust established pursuant to the terms of a will
a trust or estate generally started on the date a person dies
a trust that arises as a consequence of the death of an individual
a trust that is neither formed nor funded until the death of the settlor
a trust that is set up only after the death of the will maker
a trust which becomes effective upon the testator's death through his will
a trust written into the will that can spring into existence upon the death of the person who made the will
A trust that is established by will. Compare to living trust.
A trust established after the death of the grantor under the provisions of the grantor's will.
The opposite of a living trust. This trust isn't established until after you die. Your will typically includes the language to establish these trusts at your death.
A trust established in a will which comes into effect after the testator's death.
Different from an Inter Vivos Trust in that a testamentary trust makes provisions to establish a trust after the will has gone through probate. p 124
trust created upon or after the grantor's death, often by means of a will or revocable trust, or in the context of another trust instrument or agreement.
A trust created by a will, that is scheduled to occur after the maker's death. Theoretical futures price The equilibrium futures price. Also called the fair price.
A trust created in a will that does not come into existence until after the testator's death. Sometimes a living trust may use this term to refer to different terms applicable to the trust after the death of the grantor.
A trust created by the provisions in a will. Typically comes into existence after the writer of the will dies.
A trust in a will. Can only go into effect at death. Does not avoid probate.
A trust created under the terms of a person's Last Will and Testament. (see also Intervivos Trust)
a trust that you set up through your will and only becomes effective, if at all, upon your death. Often used for a "contingent trust for minor children." Compare to "Living Trust."
A trust that is created by your will at your death.
A trust created through the will of its creator.
A trust established or which takes effect upon the death of the grantor.
a trust that you set up through your will. Often used for a "minor's trust" for children.
A trust established by an individual by will to take effect at his/her death. An inter-vivos trust is a trust that is established and takes effect during one's lifetime.
A will can have a trust written into it, called a Testamentary Trust, which is set into motion by the Court after the will reaches a certain point of execution, and is used only after the death of the person whose estate it represents. TRUST is defined as any arrangement where property is to be held and administered by a trustee for the benefit of those for whom the trust was created. Depending on the type and how it is established, a trust may be revocable (changeable) or irrevocable (not changeable).
A trust established by the terms of a will.
A trust set up by a will.
A trust that is created upon death by the terms of a person's will.
A trust, created under the terms of a will or an inter vivos trust provision that becomes effective only on the death of the grantor.
A trust created under a will that only takes effect after death.
A trust created in a will. The trust comes into being only after the testator's/testatrix's death.
A trust established by a will that takes effect upon death.
A type of trust created in the decedent's will. It technically comes into existence at the time of death.
A trust created in the grantor's will.
A trust established in a Will that begins after the testator's death.
A trust of certain property passing under a will and created by the will. A residuary trust is a trust of the residuary estate. A marital (marital deduction) trust is a trust for the benefit of a surviving spouse, which qualifies the trusteed property for the estate tax marital deduction.
A trust which becomes effective only after death of the grantor, and which is usually created through the probate of a will containing the terms of the testamentary trust.
A trust created by a provision in your will.
The trust that comes into being only as a result of the death of a person whose will provides for the creation of the trust after his death; hence, the term "testamentary."
A trust that comes into existence at the death of the person creating the Will.
a trust that is part of a person's will.
A trust created by a provision in a person's will.
A Trust established in a person's Will. A Testamentary Trust only comes into operation after the Will has been probated and the assets have been distributed in accordance with the probate court order. In many states, Testamentary Trusts remain subject to the jusridiction of the probate court.
a trust created by a Will. See Trusts.
A trust created under a will and activated upon death. In and of itself, it does not necessarily avoid probate.
Legal document set up by a will when a person dies that is used for special situations, such as to establish a fund to pay for a child's education.
A type of trust that is established under the will of a deceased individual.
A trust which takes effect only upon the death of the settlor, commonly found as part of a will. Trusts which take effect during the life of the settlor are called inter vivos trusts.
A trust created under the deceased's will. It comes into being shortly after the grantor's death.
A trust that is created upon your death by the terms of your will.
A trust established at death under the decedent's will.
A trust agreement created by the terms of the will.
trust set up in a will that takes effect after death.
A trust, set up in a will, which does not become effective until the death of the testator.
A trust created by Will after death. Unlike a living trust (inter vivos trust) that was created during the lifetime of the grantor.
This type of trust is created by a will, and becomes effective upon the death of the will maker.
a trust that is contained inside of a will
Can be most any type of trust created at death, by your will. Typically includes By Pass Trusts and Q-Tip Trusts.
A testamentary trust is a trust established in a Last Will and Testament, typically for the benefit of minor children. This trust allows you to leave property to minor children but have other responsible adults manage that property until the children reach a certain age.
A trust created by a will, effective only upon the death of the willmaker.
A trust created by a Will and does not actually come into existence until the death of the person creating the trust. A Testamentary Trust can be drafted so as to take advantage of the various estate planning features, such as the avoidance of some estate tax and can be used to create a Marital or Family Trust, as well.
A trust created as a result of explicit instructions from a deceased's will.
A trust that is established within a person's will. This differs from an inter vivos trust that is created during the grantor's lifetime. See: Inter Vivos Trust
A trust created after the grantor's death, according to the provisions of the the will of its creator.
A trust created after the grantor's death, according to the provisions of the deceased person's last will and testament. Contrast with Inter Vivos Trust.
Trust created by a will, which comes into effect only after the death of the testator. It empowers a trust administrator to implement the terms of the trust.
A trust which is created under a will.
A trust contained wholly within the will of a deceased person. Effective only after death.
A testamentary trust (sometimes referred to as a will trust) is trust which arises upon the death of the testator, usually under his will. Testamentary trusts are distinguished from inter vivos trusts, which are created during the settlor's lifetime.
a more complex form of Will which has far reaching benefits from the planning and taxation aspects
a very effective method of income splitting for the beneficiary of an estate
a powerful and flexible planning device