What is a testamentary trust?

A testamentary trust is a trust that is created through a written document or will. It is a trust that takes effect upon the death of the person who created it, or the “testator.” In California, a testamentary trust is a type of trust that is created in a will. It can be used to provide for a beneficiary after the testator dies. The testator can specify in their will the terms of the trust, such as how the money or property should be invested, when the assets will be distributed, and who should be the trustees. The trustees are responsible for managing the trust, making sure investments are appropriately managed and ensuring that assets are properly distributed according to the will. The testamentary trust can also provide protection in the event that the beneficiary is not capable of managing the funds or assets. It can be used to provide for a beneficiary who is underage, or has special needs, or other conditions that preclude him from managing funds. Testamentary trusts are a common component of estate plans in California. They are an important tool for providing for beneficiaries after the death of the testator and managing assets in a controlled and secure manner.

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