Online WILL with Testamentary Trust

A Testamentary Trust Will is a type of Will that establishes a Trust or Trusts upon the death of the testator.

Primarily, they are designed to protect the deceased’s assets because they belong to the Trust rather than any individual.  The Trustees who decide how the income is distributed can also be beneficiaries of the Trust.

Testamentary trusts are created by a will to provide a greater level of control over the distribution to beneficiaries. There are also tax advantages available through testamentary trusts, making them an effective estate planning tool. We encourage you to seek professional advice before using a Testamentary Trusts.

The beneficiary must take their inheritance via the trust. Unless granted by the testator, beneficiary may not have the option to appoint or remove trustees. Often useful where the beneficiary is not in a position to responsibly manage their inheritance due to age, disability or spendthrift tendencies.  The main benefits of testamentary trusts are their ability to protect assets and to reduce the tax paid by beneficiaries from income earned from the inheritance.

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