No, a testamentary trust is usually created by a person’s will and has assets transferred to it during the probate process. These assets are then distributed by the trustee according to the terms of the trust. One advantage to a testamentary trust is that its administration would be carefully overseen by the courts. However, this type of trust does not avoid the process of probate which can be costly in terms of time and money. For advice on what kind of estate planning documents would best serve your individual needs, contact one of our experienced estate planning attorneys at (941) 906-1231.
