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testamentary trust

/ˌtɛstəˈmɛntəri trʌst/

1 entry

phrase

/ˌtɛstəˈmɛntəri trʌst/C1formallegal
  • ruЮридическое соглашение, созданное через завещание человека, при котором активы передаются в доверительное управление после его смерти для управления доверительным собственником в интересах назначенных бенефициаров.

A legal arrangement created through a person's will, where assets are transferred to a trust upon their death to be managed by a trustee for the benefit of designated beneficiaries.

  1. Will-based trustC2formal

    A trust created by a person's will that only takes effect after their death, managing assets for beneficiaries.

    ruЗавещательный траст

    • The lawyer drafted a testamentary trust to protect the children's inheritance.
    • Assets in a testamentary trust are distributed according to the deceased's wishes.
    • A testamentary trust can help minimize estate taxes for the beneficiaries.