Trusts: Testamentary or Revocable Living?
When planning your estate, selecting the right type of trust is essential for fulfilling your wishes distributing your assets according to your desires. Two common types of trusts are testamentary trusts and revocable living trusts. While both serve the purpose of managing and distributing assets, they have distinct differences in terms of creation, administration, and functionality. Understanding these differences can help you make an informed decision best suiting your estate planning needs. Testamentary Trusts A testamentary trust is created within…