Testamentary trust – A trust which is to take effect only upon the death of the settlor and is commonly found as part of a will. Trusts which take effect during the life of the settlor are called inter vivos trusts.
Testamentary trust – A trust which is to take effect only upon the death of the settlor and is commonly found as part of a will. Trusts which take effect during the life of the settlor are called inter vivos trusts.