Use of Trusts for Probate Transfers Flashcards
1
Q
When do probate assets go into a trust?
A
If a valid will gives that direction
2
Q
What is one common instance in which a will creates a testamentary trust
A
When parents execute a will while their children are still minors
3
Q
What are other common purposes for testamentary trusts?
A
care of
- a permanently mentally disabled offspring
- a spouse with dementia
- pets
- burial plot
