3B: 1-7 Exclusion of property passing to a testamentary trustee other than by devise from rights of personal representative or creditors of decent
Property passing to a testamentary trustee other than by devise shall not be subject to rights of, powers of or to administration by a personal representative or to rights of creditors to any extent beyond that to which it would otherwise be if the testamentary trust was an inter vivos trust.
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A testamentary trust is a trust which arises upon the death of the testator, usually under his or her will. Testamentary trusts are distinguished from inter vivos trusts, which are created during the settler’s lifetime.
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