What is the difference between a testamentary trust and a living trust?

How do testamentary trusts and living trusts differ in terms of creation and purpose?

Category: Wills & Estates
Location: Guaynabo

Answers

A testamentary trust is created through a will and comes into effect upon the testator's death, whereas a living trust is established during the testator's lifetime.

1 year ago

Testamentary trusts are often used for managing assets for beneficiaries, while living trusts can help with estate planning and avoiding probate.

1 year ago

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