testamentary disposition

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Testamentary disposition is a disposition or transfer of property by the testator by gift, deed, or will, but the disposition does not become effective until after the testator's death, and the testator retains essentially full control of the property during their lifetime. In addition, all instruments used to make a testamentary disposition must meet the requirements of the probate statute.

[Last updated in November of 2021 by the Wex Definitions Team]