October 29, 2024
Legally speaking, an unfunded trust is not valid if it is not funded at the correct time for the type of trust that it is. For example, if it is a testamentary trust, it does not need to be funded during the trustor’s lifetime. In fact, it only gets funded at their death, and this is the appropriate way for it to go. So, an unfunded trust at death is valid during the testator’s lifetime if it is a testamentary trust, but it will not be valid if it does not get funded at their death, such as through their will.
September 5, 2024
Testamentary trusts are a vital aspect of estate planning that ensures the smooth distribution of assets according to your wishes after your passing. Testamentary trusts are an invaluable tool within personal finance management, particularly for those with minor children or unique circumstances. These trusts offer a structured way to manage and distribute assets, providing financial security and support for beneficiaries while adhering to your specified terms.
September 5, 2024
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