Will Guide
What Happens if You Die Without a Will
Leaving Property to Heirs
Homes and Family Residence
Testamentary Trusts
Amending and Revoking Your Will
Marriage, Divorce and Children
Estate Taxes
Will FAQs
What is a will?
What happens if you die without a will?
Is my out-of-state will valid if I move?
What makes a will legal?
Can I make a handwritten will?
Do I have to file my will with a court or in public records?
Can I disinherit someone?
What should I do with my will after I sign it?
Can I change or revoke my will after I make it?
What happens to my debts after I die?
Where can I get my will notarized?

What You Need To Know

Testamentary Trusts

If you are leaving property to minor children, you may want to consider leaving the property to them in a testamentary trust. This trust is used to hold property for the benefit of another. For instance, if you leave $10,000 to your child who is 12 years old, you could have the property placed "in trust" and name someone to take care of that property for your child until he or she reaches a certain age or finishes school.

The person you name to take care of the property is called the trustee of the property, and your child is the beneficiary. The trustee is usually the person you appoint as the guardian to your children, but it can be someone else you appoint instead.

Many rules apply to the trustee. For example, the trustee must act in the best interest of the beneficiary. The trustee cannot mishandle the property or use the property for his or her own benefit.

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