Which of the following is NOT considered a will substitute?

A testamentary trust is established through a will and comes into effect only upon the testator's death, making it part of the probate process rather than a will substitute. Will substitutes, on the other hand, allow for the transfer of assets outside of probate. Life insurance, joint tenancies by entirety, and inter vivos gifts all serve as mechanisms that permit asset transfer upon death or during the lifetime of the donor, bypassing the need for a will or probate process. These vehicles provide a means to manage and distribute assets directly to beneficiaries without the formalities associated with a will, which is why they are categorized as will substitutes.