Investopedia / Danie Drankwalter A testamentary trust is a trust that is established by with the instructions contained in a last will and testament. A trust is a fiduciary relationship that ...

Testamentary trusts, by comparison, are fixed once the grantor passes away, providing less flexibility. Any changes would require legal proceedings, which can be cumbersome and costly.

There are two basic types of trusts: living trusts and testamentary trusts. A living trust or an "inter-vivos" trust is set up during the person's lifetime. A Testamentary trust is set up in a ...

Irrevocable trusts come in two forms: living trusts and testamentary trusts. A living trust, which is also known as an inter vivos (Latin for "between the living") trust, is originated and funded ...

A revocable trust is created during an individual’s lifetime, and it can be changed at any time in that lifetime. A testamentary trust is created as part of a will. Neither trust need be funded ...