Any trust created in a last will and testament.

• A. Testamentary trust
• B. Clifford trust
• C. Qualified personal residence trust
• D. Charitable remainder annuity trust

Answer: (A)

The concept is trust formation tied to a will. A trust created in a last will and testament is called a testamentary trust. It is formed by the provisions of the will and comes into existence only after the testator dies and the will is probated, with the trust funded by assets from the probate estate. This distinguishes it from trusts created during the grantor’s lifetime (inter vivos trusts) and from nonstandard or non-will-based trust types.

The other options describe different kinds of trusts that aren’t created by a will. A qualified personal residence trust is an inter vivos instrument used for tax planning that’s set up during life. A charitable remainder annuity trust is a charitable remainder trust typically established by a trust agreement during life, though a testamentary version could exist, it’s not the ordinary term for a trust formed by a will. A Clifford trust isn’t a standard, widely recognized category for a will-created trust. Thus, the term that best matches “any trust created in a last will and testament” is the testamentary trust.