lazy heheh
copy & pasted from googled https://kclau.com/estate-planning/how-to-us...ones-and-asset/
Types of Trust

There are three kinds of Trust. Let me start with the Living Trust and continue with the Testamentary Trust. Living Trust is the person still alive, the asset is under the person’s name and he/she setup a Living Trust. During his/her lifetime, he/she need to transfer the assets that he/she currently owns to the Trustee name. But for Testamentary Trust, when the person is still alive, the asset is under the person’s name. When the person is dead and gone, the asset is still under the deceased name until the probate is granted and the debts and income tax are cleared, then the Testamentary Trust will only be started.

In simple terms:
1. i die
2. My Will creates the Trust & certain assets in my Estate goes into the trust to be managed as per my written instructions to the Trustee, for the benefit of my beneficiaries (and charities).
3. reach a certain amount left, dibubarkan
OR reach 80 years, dibubarkan coz when i set it up, max "lifespan" of such trust = 80 years.

The trust deed document might cause RM1000-RM5000, depending on the complexity.
The trustee also charge a percentage of the assets under trust, ~1% per year.

ok la, as a % of my estate, sup sup water
the Will itself cost about $7K, considering everything/impact - ok lar, as a % of estate or yearly growth, sup sup water

for my goldbro (U la, who else) - lagi worthwhile la
worthwhile if U worry your beneficiaries will get the "lottery winners' curse" and ending up worse off that before inheriting coz of bad spending habits developed.
just a thought ya - no absolute right/wrong, just wong

PS: IMHO, there are things one should NOT put into the testamentary trust - eg. properties, due to cost of transfer/stamp duty/etc. That one i just Will it out. Thank gawd i'm not a muslim, have to worry about Faraid and challenges from the males.. i feel for our muslim bros/sis - Wasiat also can be useless

er.. depends on U.
Me - my testamentary trusts states what asset allocation, rebalancing, payouts, etc. leh heheh
and not many Trustees do such - PBTrustee wont, die die say put in cash FD je. Gila...

er.. Settlor? as in Grantor?
if so - dead liao ma - me, that's how the Trust is created, via death --> Will --> Testamentary Trust created & populated with assets from Grantor

or U meant some other Settler? <clarifying>