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A testamentary trust, also referred to as a will trust, specifies how an individual's assets are selected once the grantor's Loss of life. It's not proven right up until following the grantor passes away.

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Each and every trust falls into six wide groups—living or testamentary, funded or unfunded, revocable or irrevocable.

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Funded or Unfunded A funded trust has belongings set into it by the trustor throughout their lifetime. An unfunded trust is composed only of your trust settlement without funding.

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