Legal Question in Wills and Trusts in Pennsylvania

In drafting a will, what is the legal terminology used in creating a testementary trust ?


Asked on 10/10/14, 6:46 am

1 Answer from Attorneys

There is no terminology. You get a lawyer and not do this yourself.

Testamentary trusts, which are part of wills, are not that expensive.

In the article disposing of assets, if a trust is to be created, the will specifies that the assets are to be distributed to the testamentary trust as set forth in whatever article you assign it. then in that article, you establish the trust and indicate what it is going to do, when it will end and so on.

Example:

in article II of your will you dispose of assets. one of the beneficiaries is a minor. you leave money to minor, provided that he/she is 21, if minor is not 21, then his/her share is left in trust in accordance with article iii, trust for minors.

in article III, you will then say what the trustee is to do with money, how often trustee pays out, what happens if minor dies while a trust is being administered and so on. there are many variables and i don't know what kind of a trust this is or why you need one.

Again, this is not something you do on your own and if you insist and think you are saving a few bucks by being cheap, then you are mistaken, because your legacy might be leaving your loved ones a lawsuit instead. You would not be your own car mechanic or plumber or brain surgeon. Likewise, you should not be your own lawyer and try to draft something that you are not trained to do.

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Answered on 10/11/14, 3:18 am


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