Is a living trust a testamentary trust?
A living trust is not a testamentary trust. A living trust–also known as an “inter vivos trust”–takes effect in the maker’s lifetime. In contrast, a testamentary will go into effect only after the maker’s death. For instance, all trusts created in a Last Will and Testament will be a testamentary trust, or living trust.Source:Indiana Trust and Investment Company: Testamentary TrustsLiving Trust Network: Types of TrustsLiving Trust vs Will: DifferencesEmerald Publications: Living vs Testamentary: A SlideshowMore Information:Fort Dix Legal Brief: Testamentary Trust (Word document)Free Living Trust Information: Wills vs.
