A testamentary trust is a trust:

Question

Quizplus · Accepted Answer

A testamentary trust is established by a will, which means it goes into effect only upon the death of the person who created the will. The trust is created to manage and distribute assets in accordance with the wishes of the deceased. A general power of attorney, on the other hand, applies only during the lifetime of the person granting it and does not establish a trust. Living persons can establish inter vivos trusts, but those are not testamentary trusts. Finally, a settlor is the person who establishes a trust, but this term does not differentiate testamentary trusts from other kinds of trusts.

A Testamentary Trust Is a Trust