Testamentary Trusts are trusts created within a Will that only come into effect upon the death of the Willmaker.
Assets under a Will that incorporates a Testamentary Trust pass to the trustee who holds the assets on behalf of the beneficiary or beneficiaries – the assets do not pass directly into the name of the beneficiary.
Why have a Testamentary Trust?
The advantages of a Testamentary Trust can be quite significant. They include:
Testamentary Trusts are recommended when:
The benefits of a Will that incorporates a Testamentary Trust is significant and it’s worth having a chat about it with us in more detail.