In all these cases, a testamentary trust can be a useful estate planning tool. What’s more, it makes it possible to leave assets to minor children who may not be able to legally possess or ...

There are two basic types of trusts: living trusts and testamentary trusts. A living trust or an "inter-vivos" trust is set up during the person's lifetime. A Testamentary trust is set up in a ...

A good illustration of this point is found in Alfred I. DuPont Testamentary Trust v. Comm’r, 514 F.2d 917 (5th Cir. 1975). In that case, the taxpayer built a mansion on 300 acres of property ...

Testamentary trust The most common way to ensure that your loved ones are taken care of financially after your demise is to set up a testamentary trust in your last will and testament. This trust ...

A revocable trust is created during an individual’s lifetime, and it can be changed at any time in that lifetime. A testamentary trust is created as part of a will. Neither trust need be funded ...