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Living Trust vs. Testamentary Trust: Which Is Right for You? - Davies Law Firm
From Davies Law Firm - Living Trust vs. Testamentary Trust: Which Is Right for You? breaks down how these two estate planning tools differ in New York, particularly when it comes to timing, probate, privacy, and control over assets. The episode explains that a living trust takes effect during your lifetime once it is signed and funded, while a testamentary trust exists only as instructions inside a will and cannot take effect until after death.
Listeners will hear how Surrogate's Court plays a central role in testamentary trusts, since a will must be admitted to probate before the court can…
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