(Money Manager) - A testamentary trust is one of the most common varieties of trusts. These trusts are activated by a person's will at the time of their death. Testamentary trusts are commonly used to provide benefits for a minor child or disabled child even if they are older, in the case of the death of both parents. Testamentary trusts can also be set up under certain circumstances for one's spouse as a way of providing benefits to them.
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