Is a living trust a testamentary trust?

Answer A living trust is not a testamentary trust. A living trust--also known as an "inter vivos trust"--takes effect in the maker's lifetime. In contrast, a testamentary will go into effect only after th... Read More »

Top Q&A For: Is a living trust a testamentary trust

How to Amend a Living Trust or Change a Living Trust?

A living trust protects your assets and settles the question of who will be receiving what part of your assets after you die. Putting assets in trust can also have some tax benefits. A living, or r... Read More »

Can a Testamentary Trust Be the Beneficiary of a Life Insurance Policy?

If you have a testamentary trust, it begins to work after you die. If you want to name the trust as the beneficiary of a life insurance policy, you have to create the trust before you die with the ... Read More »

Can a testamentary trust be the beneficiary of a life insurance policy?

Yes. It is possible to name a testamentary trust as the beneficiary of a life insurance policy. However, you will need to check with your state tax laws to determine if doing so will add the life i... Read More »

Does a beneficiary of a living trust have the right to see the trust?

A beneficiary's right to examine a revocable living trust does not exist until the trustor---the person who made the trust---dies. The beneficiary then has the right to request a copy of the trust ... Read More »