Definitions
There is 1 meaning of the phrase
Testamentary Trust.
Testamentary Trust - as a noun
A trust that is created under a will and that becomes active after the grantor dies
Example Sentences
"A testamentary trust is a type of trust that is created through a will and comes into effect upon the testator's death."
"The testator named his children as beneficiaries of the testamentary trust."
"The assets held in the testamentary trust are managed by a trustee until the beneficiaries come of age."
"The testamentary trust allowed the testator to provide for his grandchildren's education expenses."
"The terms of the testamentary trust state that the income generated from the trust's assets should be distributed annually to the beneficiaries."
