What is a testamentary trust?

A testamentary trust is a type of trust that is set up under the terms of a will. It is created when the will-maker (the person making the will) dies and their will is executed. This type of trust is used to manage and distribute the assets of the deceased to their heirs, such as family members or charities. In Texas, a testamentary trust is regulated under the laws of trusts and estates. The trust must be established as part of a will, which must be in writing and signed by the will-maker. The will must then go through probate, a process where a court reviews the document to make sure it is valid. Once the will is deemed to be valid, the trust is established. The will-maker or someone appointed by the court, such as an executor, will then be responsible for administering the trust according to the instructions outlined in the will and the trust document. This includes managing and distributing the assets of the trust as the will-maker laid out in the will. The purpose of a testamentary trust is to ensure that the assets of the deceased are distributed according to their wishes. It also helps to simplify the probate process, as the management of the assets is already taken care of. Testamentary trusts are an important part of Texas trusts and estates law, and they can be a useful tool for those wanting to ensure that their assets are handled in the way they intended.

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What is a testamentary trust?

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