What is a testamentary trust?

A testamentary trust is a type of trust that is created through the instructions of a deceased individual known as a testator. It is created after an individual passes away and is governed by the instructions written in the will of the deceased person. The trust begins when the deceased’s property is transferred to the trustee who is appointed by the will. The trustee is then responsible for managing the trust according to the instructions written in the will. These instructions may include how the trust is to be managed, how the funds are to be distributed, and when they are to be distributed. They may also include instructions on how the trust should be taxed and any other details concerning the trust. A testamentary trust is a common estate planning tool in California because it allows the testator to specify how their property will be transferred after they pass away. Testamentary trusts are often used to provide for minor children, protect assets from creditors and taxation, and provide for the care of a loved one. With a testamentary trust, individuals can also specify how their property is to be managed after their death and ensure it is used to benefit their beneficiaries as they wish.

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What is a testamentary trust?

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