Trust Under Agreement Vs Under Will

However, a testamentary trust cannot prove to be a post-clearance procedure, as the property to be transferred to it remains in the name of the deceased at the time of death – the trust has not yet been set up and financed. The estate is necessary to move this property in the name of the trust, just as it would be to transfer it to the name of the living beneficiaries. A testamentary trust guarantees an estate. A revocable living trust gives you, or rather your family, a chance to avoid succession. However, the vast majority of people who gain revocable living trust must take care of the estate, just like people who get testamentary trust because they have not used or funded the trust adequately. . . .