When is a Testamentary Trust Right?
A testamentary trust may be right for you if you'd like to leave real or personal property for the benefit of another person, however, you do not want that person to have immediate control of that property. For example, some parents chose to create a testamentary trust which holds the family home in trust for their children. Parents may chose to place the home in a trust because they feel that the children are not ready to assume the responsibility of managing the property until after they pass away. Parents generally add a "conditional devise" to a testamentary trust if their children are minors. A conditional device merely states that the property passes to the children only if specified conditions occur. For example, a father may set a condition that the children will receive the property after his spouse dies.
If you have more questions about estate litigation or wills drafting and live in the Los Angeles area you should consult with a Los Angeles estate litigation lawyer.