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Simple English definitions for legal terms

testamentary trust

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A quick definition of testamentary trust:

A testamentary trust is a special kind of trust that is made when someone writes their will. It only starts after the person who wrote the will has died.

A more thorough explanation:

A testamentary trust is a type of trust that is created in a person's will. It only comes into effect after the person has passed away.

For example, let's say that John creates a will that includes a testamentary trust for his daughter, Sarah. John passes away, and the trust is then established for Sarah's benefit. The trust will be managed by a trustee, who will be responsible for distributing the assets in the trust to Sarah according to the terms of the trust.

Another example could be a person who wants to leave money to a charity after they pass away. They could create a testamentary trust in their will that specifies how the money should be used by the charity.

Overall, a testamentary trust is a way for a person to ensure that their assets are distributed according to their wishes after they pass away. It can be a useful tool for estate planning and can provide peace of mind for the person creating the trust.

Testamentary power of appointment | Testate

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another waitlist today chat, it's so joever
eggan
14:48
H i personally think you have great stats its just too late in the cycle to be applying places. if you dont get in anywhere you should consider R&R
eggan
14:49
bc at those stats you should have gotten into UGA and FSU
OrangeThing
14:58
Just deposited at UT Law
OrangeThing
14:59
It's been fun. Met a lot of great people here, most of whom I don't speak to anymore after the dox. No hard feelings to them really. Everyone else, good luck with the rest of the cycle
ParallelAgreeableOrangutan
15:01
@hcarralero2005: UGA was a mess this cycle. It's not you, it's them
15:02
i'm wondering if i should do a seat deposit at hofstra- i'm waiting on 10 plus schools still
15:06
when's it due
15:06
4/15
15:07
shit it's a pretty good chunk of money I'd def deposit but not till the day before
Fo tee five minutes till Fo pm
15:34
it's conditional tho unfortunately
15:35
hell nah what are the condiitions
MrThickRopes
15:50
WAVES TN?
MrThickRopes
15:50
WAVES FO PM?
none, they hate us
MrThickRopes
15:59
fucks
MrThickRopes
15:59
I need al a bama
CheeseIsMyLoveLanguage
16:01
Is anyone else feeling weighed down by the idea of taking on debt or making a big move while the economy is so uncertain?
MrThickRopes
16:03
bro think ima pay off my loans
16:04
mf you better collections is no joke
CheeseIsMyLoveLanguage
16:05
I guess there's always that route! 😂
[] c0bra1
16:14
damn my wake forest withdrawal didnt help the wl ppl 💀
MrThickRopes
16:15
what they gon collect frum me
MrThickRopes
16:15
nothin
Fuck fo pm
MrThickRopes
16:24
thas right
BlueFalcon95
16:25
Das right
hey, just so u all know - i just farted
i luv u all and will be seeing u all shortly
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