This trust is established by your will and becomes effective upon your death.

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A testamentary trust is established through a will and only becomes effective upon the death of the person making the will. This type of trust allows for the distribution of assets to beneficiaries according to the terms specified in the will. A credit-shelter trust, on the other hand, is designed to take advantage of estate tax exemptions to minimize tax liability, and is typically funded during the grantor's lifetime. A disclaimer trust allows a beneficiary to refuse an inheritance and redirect it to a trust instead. An irrevocable trust is one that cannot be changed or revoked by the grantor once it is established. A living trust is established during the grantor's lifetime and can be changed or revoked.

This Trust Is Established by Your Will and Becomes Effective