A trust under will, or testamentary trust, is created as part of your will. After the probate process, your will directs how your estate’s assets will be managed and distributed to your beneficiaries. In consultation with your lawyer, you provide instructions for how your property is managed and distributed after your death.
During your lifetime you continue to own and control your property. You can also change your will as the needs of your family change. Byline would be named Trustee, Co-Trustee and/or Executor in your will and assumes responsibility for distributing your assets after your death.