What is a testamentary trust? This may be a common question asked of an estate planning attorney, and a testamentary trust may be a common type of trust used by an estate planning attorney when working on a client’s over estate plan. In short, a testamentary trust is a trust that arises or is created at the death of a testator or testatrix via their will. Sometimes a testamentary trust may even be referred to as a will trust.
An individual can have multiple testamentary trusts created through their will depending upon their overall estate plan and estate planning goals. Many parents with minor children will have a minor’s trust within their will, which in certain respects could be a testamentary trust.
If you have questions regarding your will, a trust document or your estate plan, you can contact The McGuire Law Firm to discuss these issues with a Denver estate planning attorney. The video below has been prepared to provide more information regarding a testamentary trust.