More trusts?  Yes, but only a little bit more.  So far, we’ve discussed only trusts that can be established during the grantor’s lifetime.  This entry concerns trusts that only come into existence once the grantor is deceased. A testamentary trust is a trust created by a person’s will.  No will, no testamentary trust.  The person creating it is the testator, not the grantor.  A grantor sets up a trust during his or her lifetime.  Here, where the trust is established after death, it is established by a person who executed a will – a testator.  To do, the testator’s intent to set up the trust must be clear in the testator’s will.  This is important –  if the intent to create a trust or to grant powers to a trustee in the will is not clear, then there will be no trust. Testamentary trusts can be used for tax purposes, or they can be used for other purposes, such as making a gift to someone under a will who is under some legal incapacity, e.g.: …