Estate Planning

Drafting Wills and Testamentary Trusts

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Drafting Wills and Testamentary Trusts

A testamentary trust is essentially a will that incorporates a trust into itself that comes into operation and existence upon the passing of the will maker. Testamentary trusts operate similarly to family trusts and are established to protect the assets of an estate as no one individual legally and beneficially owns any of the assets as they are owned by the trust. These trusts also provide flexibility in relation to the distribution of income and capital and are recommended for those who have established a strong asset base, want to preserve assets for grandchildren and protect assets against claims from third parties.

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