In all these cases, a testamentary trust can be a useful estate planning tool. What’s more, it makes it possible to leave assets to minor children who may not be able to legally possess or ...

There are two basic types of trusts: living trusts and testamentary trusts. A living trust or an "inter-vivos" trust is set up during the person's lifetime. A Testamentary trust is set up in a ...

Check your state laws for this information. Types of Wills The four main types of wills are the simple will, the joint will, the testamentary trust will, and the living will. Use a simple will to ...