Also known as: testamentary trust · will-created trust
Written by attorneys · grounded in primary & secondary sources — see below
A trust created by a will that takes effect upon the testator's death. The trust must satisfy the formalities required for a valid will and is administered under court supervision as part of the probate process.
Donor died leaving a will that created Trust A and Trust B. Trust A paid income to Donee for life with remainder as appointed by Donee or added to Trust B. Both trusts were administered under court supervision as part of the probate process.
Theresa Tucker creates a testamentary trust in her will that pays income to her two adult children for life with remainder to their descendants. After her death the children petition the probate court to terminate the trust and distribute the corpus immediately. The court denies the petition because the trust's purpose of providing successive interests remains unfulfilled.
Select any source to read its text and confirm it supports the definition.
A testamentary trust is created by a will and arises only at the testator's death. An inter vivos trust is created and funded during the settlor's lifetime and generally avoids probate.
Yes. Because the trust is created by will, the will itself must be executed with the required formalities of writing, signature, and witnesses.
The probate court generally supervises the trustee's accounting and performance because the trust is created as part of the probate process.
Under the Uniform Probate Code the poured-over property becomes part of the existing trust and is administered under its terms rather than as a separate testamentary trust.
…the life beneficiary of three quarters of his estate, for whose comfort, support and anticipated increased medical expenses the testamentary trusts were evidently created. Testimony by petitioner’s investment manager, and by the objectants’ experts, disclosed that the annual yield on Kodak stock in 1973 was approximately 1.06%, and…