In all these cases, a testamentary trust can be a useful estate planning tool. What’s more, it makes it possible to leave assets to minor children who may not be able to legally possess or ...

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 ...

Testamentary trusts, by comparison, are fixed once the grantor passes away, providing less flexibility. Any changes would ...