TERMIUM Plus®

The Government of Canada’s terminology and linguistic data bank.

TESTAMENTARY TRUST [2 records]

Record 1 2023-03-14

English

Subject field(s)
  • Law of Trusts (common law)
  • Law of Succession (civil law)
  • Finance
CONT

A testamentary trust is created in accordance with the instructions in a person's last will and testament and outlines when assets will be given to certain named beneficiaries. Unlike a living trust, a testamentary trust goes into effect after one's death. The testamentary trust definition outlines three main parties: a grantor, a trustee, and the beneficiary. The grantor, or person creating the trust, appoints the trustee to manage assets before they are ultimately given to the beneficiary.

French

Domaine(s)
  • Droit des fiducies (common law)
  • Droit successoral (droit civil)
  • Finances
CONT

La fiducie testamentaire est établie par le testament et son existence débute seulement au décès du testateur. Ainsi, le testament indique les modalités de fonctionnement de la fiducie, les bénéficiaires, les fiduciaires et les directives que ces derniers devront suivre après le décès du testateur. Donc, la totalité ou une partie des biens du testateur seront remis au décès à un ou des fiduciaires qui en feront la gestion pour les bénéficiaires.

Spanish

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Record 2 2016-05-06

English

Subject field(s)
  • PAJLO
  • Law of Trusts (common law)
  • Law of Estates (common law)
DEF

A trust that is created by a will and takes effect when the settlor (testator) dies.

French

Domaine(s)
  • PAJLO
  • Droit des fiducies (common law)
  • Droit successoral (common law)
DEF

Fiducie créée par testament et qui produit ses effets au moment du décès du testateur.

OBS

fiducie testamentaire : terme normalisé par le Comité de normalisation, Promotion de l'accès à la justice dans les deux langues officielles (PAJLO).

Spanish

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