Unlike living trusts, which are created during a person’s lifetime, testamentary trusts are activated only after the testator’s passing, offering a posthumous method of asset management.

That means heirs don’t have to go through the court system to receive assets from a living trust. Instead, a trustee can distribute funds directly to beneficiaries. Both testamentary trusts and ...

There are two basic types of trusts: living trusts and testamentary trusts. A living trust or an "inter-vivos" trust is set up during the person's lifetime. A Testamentary trust is set up in a ...

Trusts can be part of a plan to achieve an objective: minimize taxes or protect and deal with a family need. Today we will ...

Types of Wills The four main types of wills are the simple will, the joint will, the testamentary trust will, and the living will. Use a simple will to list your assets and the beneficiaries who ...