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Express Trusts

An inter vivos trust is executed by a grantor during his or her lifetime.  A testamentary trust is created by will on the settlor’s death (if the will is invalid, the trust is invalid).  The legal responsibilities of the trustees are the same in both: 

  • preserve the trust property,
  • make it productive, and
  • typically pay the income to the beneficiaries. 

Inside Express Trusts