testamentary trust

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Definitions from WordNet

Noun testamentary trust has 1 sense

testamentary trust - a trust that is created under a will and that becomes active after the grantor dies
--₁ is a kind of trust

Definitions from the Web

Testamentary Trust

Description:

A testamentary trust is a legal arrangement created in a person's will, specifying how their assets or estate should be managed and distributed after their death. This type of trust only takes effect upon the individual's death.

Sample Sentences:

John established a testamentary trust in his will, ensuring that his children will have financial security after he passes away.
The testamentary trust stipulates that the trust funds must be used for the education and well-being of the grandchildren.
Upon her demise, Mrs. Anderson's estate was transferred into a testamentary trust to be managed by her sister.

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