- testamentary trust
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testamentary trust see trust
Merriam-Webster’s Dictionary of Law. Merriam-Webster. 1996.
- testamentary trust
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A trust created by a will, effective only upon the death of the will maker. Compare: living trustCategory: Wills, Trusts & Estates → Estates, Executors & Probate CourtCategory: Wills, Trusts & Estates → Wills
Nolo’s Plain-English Law Dictionary. Gerald N. Hill, Kathleen Thompson Hill. 2009.
- testamentary trust
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A trust set up by a will.
Short Dictionary of (mostly American) Legal Terms and Abbreviations.
- testamentary trust
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n.a trust created by the terms of a will. Example: "The residue of my estate shall form the corpus (body) of a trust, with the executor as trustee, for my children's health and education, which shall terminate when the last child attains the age of 25, when the remaining corpus and any accumulated profits shall be divided among my then living children." A testamentary trust differs from an "inter vivos" or "living" trust, which comes into being during the lifetime of the creator of the trust (called trustor, settlor or donor), usually from the time the declaration of trust is signed.
Law dictionary. EdwART. 2013.
Look at other dictionaries:
Testamentary trust — A testamentary trust (sometimes referred to as a will trust) is a trust which arises upon the death of the testator, usually under his or her will. Testamentary trusts are distinguished from inter vivos trusts, which are created during the… … Wikipedia
Testamentary Trust — A legal and fiduciary relationship created through explicit instructions in a deceased s will. A testamentary trust goes into effect upon an individual s death and is commonly used when someone wants to leave assets to a beneficiary, but doesn t… … Investment dictionary
testamentary trust — noun a trust that is created under a will and that becomes active after the grantor dies • Hypernyms: ↑trust * * * noun : a trust created by the terms of a will compare living trust * * * Law. a trust set up under the terms of a will. Cf. living… … Useful english dictionary
testamentary trust — Law. a trust set up under the terms of a will. Cf. living trust. * * * … Universalium
testamentary trust — A trust created by will. See precatory trust … Ballentine's law dictionary
testamentary trust — A trust created by a will, that is scheduled to occur after the maker s death. Bloomberg Financial Dictionary … Financial and business terms
trust — n 1 a: a fiduciary relationship in which one party holds legal title to another s property for the benefit of a party who holds equitable title to the property b: an entity resulting from the establishment of such a relationship see also… … Law dictionary
Trust law in England and Wales — is the original and foundational law of trusts in the world, and a unique contribution of English law to the legal system. Trusts are part of the law of property, and arise where one person (a settlor ) gives assets (e.g. some land) to another… … Wikipedia
testamentary — I adjective by way of a will, bequeathed by will, contained in a will, devised by will, distributed by will, given by testament, hereditary, patrimonial, set forth in a will, transferred by a legacy, transferred by bequest, transferred by devise… … Law dictionary
trust account — n: an account opened with a trust company (as a bank) under which an inter vivos or testamentary trust is set up (as for the escrow of funds) Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 … Law dictionary
