Testamentary Trust

A Testamentary Trust is a Trust that is formed under a Testamentary instrument such as a Last Will and Testament.  A Testamentary Trust requires probate.  The Courts generally retain jurisdiction of a Testamentary Trust.  As a result, the administrative cost of a Testamentary Trust is high, and the privacy is low.  With very limited theoretical exceptions, no credible or competent planner recommends a Testamentary Trust any more.