Testamentary Trust
Testamentary Trust
- It is a contract through which the trustor delivers assets and/or money to the trustee so that during his lifetime he can continue managing and disposing of them according to the guidelines given by the trustor.
- Upon the death of the trustor, the contract becomes irrevocable and will be administered by the trustee in accordance with the rules or instructions established by the owner, delivering the assets to the designated persons and under the conditions agreed in the contract.