What is a testamentary trust?
- richardallanmorris3
- Sep 13, 2024
- 1 min read
What is a testamentary trust? Testamentary trusts are simply trusts created in a Will.
Usually the term is used to refer to a "discretionary" trust set up within a Will, which have classes of beneficiaries (usually down a beneficiary's bloodline). The trusts can have substantial tax and asset protection advantages over directly gifting an inheritance.
But there must be a proper evaluation of whether the trusts are necessary for a will-maker's particular circumstances and those of their family. Principal Solicitor Richard Morris briefly discusses testamentary trusts in this clip 👇
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