dotty creates a trust by her will for the benefit of eppie and her family to come into existence on dotty's death. this is

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22-11-2022
Social Studies

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dotty creates a trust by her will for the benefit of eppie and her family to come into existence on dotty's death. this is

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fawadmohd fawadmohd · Answer 1 · 2022-11-25T05:49:21+01:00

The correct ansewr (d) A TESTAMENTARY TRUST

A testamentary trust (also known as a will trust or trust under will) is a trust that exists after the death of the testator and is specified in their will. A will may include more than one testamentary trust and may address the entire estate or any portion of it.

Testamentary trusts differ from inter vivos trusts in that they are established during the settlor's lifetime.

In a testamentary trust, four people are involved:

The person who specifies the creation of the trust, usually as part of their will, but it may be set up in abeyance during the individual's lifetime. This individual is known as the settlor rather than the grantor or trustor.
The trustee, whose responsibility it is to carry out the stipulations of the will They can be specified in the will or nominated by the probate court handling the will.
The beneficiary(s) who will profit from the trust;
Although not a party to the trust, the probate court is an essential component of the trust's operation. It supervises the trustee's management of the trust.

Learn more about A TESTAMENTARY TRUST to visit this link

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Full Question:Dotty creates a trust by her will for the benefit of Eppie and her family to come into existence on Dotty's death. This is a

a. constructive trust.

b. an inter vivos trust.

c. a resulting trust.

d. a testamentary trust.