A trust in which the trust property is bequeathed or devised in a will to a trustee for the benefit of a beneficiary is called a(n)
A) precatory trust.
B) resulting trust.
C) testamentary trust.
D) inter vivos trust.

Question

Quizplus · Accepted Answer

A testamentary trust is created through a will and comes into effect upon the death of the testator. The trust property is bequeathed or devised to a trustee who manages it for the benefit of a beneficiary. A precatory trust is an informal arrangement that is not legally binding and does not meet the requirements of a valid trust. A resulting trust arises when property is transferred but the intended beneficiary is not specified, while an inter vivos trust is created during the lifetime of the trustmaker.

A Trust in Which the Trust Property Is Bequeathed or Devised