Testamentary trust refers to the trust established through the legal act of will, also known as post death trust. When the trustor delivers the property to the trust by making a will, it is the so-called testamentary trust. That is to say, the trustor formulates the planning contents of the property in advance by making a will, including the management, distribution, application and payment of the estate after the trust is delivered. When the will comes into effect, the trust property will be transferred to the trustee, who will manage and dispose the trust property according to the content of the trust, that is, the matters assigned by the trustor's will. Compared with personal trust business such as money, real estate or securities, the biggest difference of testamentary trust is that testamentary trust takes effect after the death of the principal. China's civil code clearly stipulates that testamentary trust can be established.
