Will with Testamentary Trust Template

WILL WITH TESTAMENTARY TRUST TEMPLATE FAQ

What is a will with a testamentary trust?

A Will with a Testamentary Trust is a will that creates a trust that begins after the testator’s death. The trust is managed by a trustee for the benefit of one or more beneficiaries, often to protect minors, beneficiaries with special needs, or to control how and when inheritance is distributed.

How is a testamentary trust different from a living trust?

A living trust (revocable trust) is created during your lifetime and can hold assets before death. A testamentary trust is created through your will and typically becomes effective only after death and probate.

When should you consider a testamentary trust?

It’s commonly used if you want to leave assets to minor children, provide structured distributions over time, protect a beneficiary from mismanaging funds, or appoint a trustee to manage assets until a beneficiary reaches a certain age.

What should be included in the trust terms?

Common terms include: trustee appointment and successor trustees, trust purpose, distribution standards (health/education/maintenance/support), age milestones for partial distributions, powers of the trustee, accounting, and what happens if a beneficiary dies before trust ends.

Does a testamentary trust avoid probate?

Not usually. Because the trust is created under a will, the estate generally still goes through probate. After probate, assets are transferred into the testamentary trust and managed under its terms.

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