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 ...

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 ...

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