What kind of trust can be opened after someone has passed away. What are the features of such a trust and can they shelter income?

ANSWER

The BIDaWIZ Team's Answer:

Are you referring to a trust that is created as a result of specific language in one's will? Meaning, the trust only becomes active as a result of the death of the individual? If so, this is a testamentary trust. This type of trust is useful for protecting a special needs beneficiary, creditor protection, charitable purposes, protecting assets & issues related to prior marriages.