Assertion: revocable trust | /r/CreatedBy | will
Facets:
value: usually
type: DEGREE
Source sentences:
text: A testamentary trust is created by a will and arises after the death of the settlor.
text: Testamentary trusts may be created in wills, defining how money and property will be handled for children or other beneficiaries.
text: Trust instruments are generally only used in relation to an inter vivos trust; testamentary trusts are usually created under a will.
text: A: A testamentary trust is created by a will, which begins its existence upon the death of the person making the will, when property is transferred from the decedent's estate.
text: Roman law had a well-developed concept of the trust (fideicommissum) in terms of "testamentary trusts" created by wills but never developed the concept of the inter vivos (living) trusts which apply while the creator lives.