Trust Under Will

B

The term "trust under will" refers to a testamentary trust. A testamentary trust is a type of trust that is established through a will and comes into existence only after the death of the person who made the will, also known as the testator.

In a testamentary trust, the testator specifies the terms and conditions under which the trust property is to be managed and distributed after their death. The trustee is typically appointed by the testator and is responsible for managing the trust property in accordance with the terms of the trust.

Unlike a living trust, which is created during the lifetime of the grantor and is typically revocable, a testamentary trust is irrevocable once the testator has died. A revocable trust is a type of trust that can be changed or revoked by the grantor during their lifetime.

Therefore, option B - Testamentary trust is the correct answer to the question.