Testamentary Trusts are complicated. In this information statement we have simplified some of the key issues surrounding Testamentary Trusts for your benefit.
– Trustee – controls the day to day
– Appointor – can replace the trustee of the trust
– Guardian – determines who gets paid the proceeds under the Trust
We recommend a Will Maker have a Testamentary Trust included in the Will when:
A Testamentary Trust is for the principal benefit of the beneficiaries under the Will.