Question

kenny is considering creating a testamentary trust. which of the following is not a feature of a testamentary trust? a.creation under a last will and testament b.shifts an income tax burden to a lower-bracket taxpayer c.results in the inclusion of assets in the gross estate d.does not avoid probate

Answer 1

A testamentary trust could be established to oversee the charitable asset distribution in accordance with the decedent's desires.

A Testamentary Trust: What Is It?

A trust that is created in line with the directions in a last will and testament is known as a testamentary trust. A trust is a fiduciary arrangement that enables a trustee—a third party—to manage resources on behalf of the trust's beneficiaries.

A person's instructions for creating a testamentary trust may be included in their will, allowing the trustee to disperse their assets to the designated beneficiaries. A testamentary trust, however, is not established until the person has gone away. Additionally, a testamentary trust may appear more than once in a will.

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