testamentary trust

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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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Testamentary trusts don't technically exist until after the trustor has passed away.
In addition, you may increase your chances of ongoing engagements with clients' estates, testamentary trusts and surviving spouses.
Testamentary trusts do not have this, and may be required to identify assets.
1, 2016, all existing or subsequently created testamentary trusts will be subject to tax at the top federal tax rate, subject to two exceptions.
Knize provides personal attention to all aspects of his clients' estate and trust needs, whether it is drafting a simple will or a complex estate plan with revocable/irrevocable living and testamentary trusts.
There are revocable and irrevocable trusts, and living and testamentary trusts (linked with wills).
Among them: irrevocable life insurance trusts, grantor trusts, special needs trusts, testamentary trusts and revocable living trusts.
Although this does not extend the time (lie revocable trust qualifies as an eligible S corp shareholder, it does enable the trust to transfer the stock to testamentary trusts [typically qualified terminal interest (QTIP) or bypass trusts] for an additional two years of S corp eligibility after the transfer without the need for special elections by the testamentary trusts.
The planned integration of the ATM systems by the end of next March will enable the two banks to launch new services, such as buying money trusts from Mizuho Trust through accounts at Mizuho Bank and paying commissions for testamentary trusts using Mizuho Bank, the officials said.
Testamentary trusts are established under the terms of a person's will and only take effect at that person's death.
18) Accordingly, planning steps for Michigan testamentary trusts are limited in the same manner as Illinois and Pennsylvania.
IN THIS EXTRAORDINARY NEW YORK CASE, A HUSBAND AND WIFE CREATED TESTAMENTARY TRUSTS FOR THE BENEFIT OF THE SURVIVOR DURING THEIR LIFETIME.