Are All Trusts Living Trusts?
The word “trust” gets used quite broadly, creating potential confusion. While a “living trust” is a widely discussed instrument for estate planning, it’s crucial to understand that not every trust is a living trust. We’ll break down the key distinctions. What is a Trust? Simply put, a trust is a legal arrangement where someone (the […]
What is a Testamentary Trust?
Simply put, a testamentary trust is a trust that is written into a Last Will & Testament. The trust does not come into existence until the Will is probated. Testamentary trusts can be created for a variety of reasons. Here are a few reasons a person might want to set up a testamentary trust in […]