a trust created by the terms of a will. Example "The residue of my estate shall
form the corpus (body) of a trust, with the executor as trustee, for my children's
health and education, which shall terminate when the last child attains the age
of 25, when the remaining corpus and any accumulated profits shall be divided among
my then living children. " A testamentary trust differs from an "inter vivos" or
"living" trust, which comes into being during the lifetime of the creator of the
trust (called trustor, settlor or donor), usually from the time the declaration
of trust is signed.
See also inter vivos trust living trust trust will
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