What is the relationship of a revocable trust to a living trust and a testamentary trust?

0
Posted

What is the relationship of a revocable trust to a living trust and a testamentary trust?

0

A living trust is one that you create during your lifetime by making a trust agreement with a trustee and transferring assets into the trustee’s name. Thus, a revocable living trust is one that you create and fund during your lifetime, and over which you have virtually complete control. A testamentary trust is one that goes into effect and is funded (i.e., assets are transferred to the trustee) after your death.

Related Questions