Testamentary Trusts

Testamentary trusts are often used to protect assets for minors, beneficiaries with special needs, or in cases where you want to control how your estate is distributed over time. They can also help reduce tax liability and protect the estate from creditors or claims.

The trust is managed by a trustee, who is responsible for administering the trust and making decisions in accordance with the terms set out in the will. Trustees have a legal duty to act in the best interests of beneficiaries and are responsible for investing and distributing assets as directed by the trust document.

No. While often used for larger estates, testamentary trusts can also benefit smaller estates, particularly where there is a desire to manage how assets are distributed to beneficiaries or to provide for children or other dependents over time.