DuPont died in 1935 and left an estate worth $27 million to a testamentary trust.

There are four parties involved in a testamentary trust:

A testamentary trust is a legal arrangement created as specified in a person's will, and is occasioned by the death of that person.

For individuals with high marginal tax rates a testamentary trust can 'restart' the tax calculation.

However, a testamentary trust may be a better solution if the expected estate is small compared to potential life-insurance settlement amounts.

A testamentary trust is one created by being written into a will to provide for management of assets to be inherited by beneficiaries.

A trust created in an individual's will is called a testamentary trust.

Because a will can become effective only upon death, a testamentary trust is generally created at or following the date of the settlor's death.

A living or intervivos trust changes to a testamentary trust.

A will may also create a testamentary trust that is effective only after the death of the testator.