Share

Hooper Law Office,LLC Estate Planning Blog

Monday, February 2, 2015

What are the differences between living and testamentary trusts?

The principal difference between living and testamentary trusts is when they go into effect.  Living trusts go into legal effect immediately upon signing.  They are known as inter vivos trusts, which means "during lifetime" in Latin.  This distinguishes them from trusts created in wills (testamentary trusts) that do not take legal effect until the maker's death.  Like wills, testamentary trusts go through the probate process and are supervised by the court system, while living trusts escape court supervision.  Living trusts can technically be either revocable or irrevocable, but the term "living trust" commonly refers only to revocable trusts.

Archived Posts

2016
2015
December
November
October
September
August
July
June
May
April
March
February
January
2014
December
November
October
September
August
July
June
May
April
March
February
2013
October
August
July
June
May
April
March
February
January


Serving Outagamie County, Brown County, Winnebago County, Fond du Lac County, Manitowoc County, Calumet County, Waupaca County, Kewaunee County, Brown County, and Oconto County. Cities served include: Appleton, Green Bay, Clintonville, Oshkosh, Greenville, Hortonville, Fond du Lac, Shiocton, New London, Freedom, Sherwood, Seymour, De Pere, Kaukauna, Kimberly, Shawano, Pulaski, Oconto, Fremont, Stevens Point, Wautoma, Winneconne, Omro, Berlin, Ripon, Green Lake, Waupun, Beaver Dam, Lomira, Mayville, West Bend, Oostburg, Sheboygan, Plymouth, Manitowoc, Two Rivers, Kewaunee, Algoma, and Sturgeon Bay.



© 2017 Hooper Law Office, LLC | Disclaimer
926 Willard Drive, Green Bay, WI 54301
| Phone: 1-800-794-5548
2 Systems Drive, Appleton, WI 54914
| Phone: 920-993-0990
3475 Omro Road, 100, Oshkosh, WI 54904
| Phone: 800-794-5548

Estate Planning | Advanced Estate Planning | Asset Protection | Special Needs Planning | Probate / Estate Administration | Charitable Planning | Nursing Home Asset Protection Planning | Veteran Pension Planning | Business Exit Planning | Pet Trust Planning | Newsletters | Articles & Publications | LegalVault | About Our Firm

Attorney Website Design by
Amicus Creative