MLchartDataset catalogue

Testamentary trust

Term · Law · MLC-T-LAW-004895

A trust created by the provisions of a will and taking effect only upon the death of the testator, after the will has been admitted to probate. The will specifies the terms of the trust, including the beneficiaries, the trustee, and the assets to be held in trust. This type of trust is often used to manage assets for minor children or beneficiaries with special needs.

Table 1. Record
IdentifierMLC-T-LAW-004895
FieldLaw
Record as JSON 
{
  "id": "MLC-T-LAW-004895",
  "term": "Testamentary trust",
  "field": "Law",
  "definition": "A trust created by the provisions of a will and taking effect only upon the death of the testator, after the will has been admitted to probate. The will specifies the terms of the trust, including the beneficiaries, the trustee, and the assets to be held in trust. This type of trust is often used to manage assets for minor children or beneficiaries with special needs.",
  "url": "https://mlchart.com/terminology/law/testamentary-trust/"
}

Record 5,000 of 5,445 in Law terminology (MLC-0107). Request the full dataset.