A will is a legal document that sets forth how a person's property will be distributed upon their demise.
A testamentary trust is any trust created by a will for any purpose. Just as a revocable living trust, a testamentary trust appoints a trustee to administer the trust. For more information on how you may benefit from a testamentary trust, contact the Law Offices of Mark Bain, P.A., at (954) 455-8802.
A pour-over will acts as a safety net and accompanies a revocable living trust. Essentially, its function is to capture any asset which has not been already funded into a trust.