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testamentary trust

   Also found in: Legal, Financial, Wikipedia 0.01 sec.
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Noun1.testamentary trust - a trust that is created under a will and that becomes active after the grantor dies
trust - something (as property) held by one party (the trustee) for the benefit of another (the beneficiary); "he is the beneficiary of a generous trust set up by his father"
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Carnatom LLC, led by Donald Coulter II; Webb LLC, led by John Coulter; and the Dixie Faye Johnson Testamentary Trust acquired the location near the southeast corner of Northshore Lane and Northshore Place.
Site acquisition by Waldon, George / Arkansas Business
A testamentary trust is a separate taxpayer that enjoys graduated marginal tax rates, somewhat like an individual.
Who needs a will? Think getting a will prepared is a hassle? Try ... by Rheubottom, Sean / SaskBusiness
All states that tax the income of trusts base their jurisdiction to tax resident trusts on a combination of one or more of the following factors: 1) residence of the testator of the trust at death for a testamentary trust (resident testator), or residence of the settlor at the time the trust becomes irrevocable for a living trust (resident settlor); 2) residence of the trustee; 3) place of administration; or 4) residence of the beneficiaries.
So you left your trust at home when you moved to Florida by Kern, Jeffrey A.; Shore, H. Allan / Florida Bar Journal
 
 
 
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