Natalie Westbrook Lawyer


Testamentary Trusts




You may have heard of Testamentary Trusts as part of succession planning and wondered what they are and whether you should consider one.

A Testamentary Trust is a discretionary trust made in a Will and does not come into operation until after your death. It also gives full discretion to your trustee to distribute your Estate. 

What are the benefits of a Testamentary Trust? 

It differs from a standard Will in that instead of assets passing to an individual they will pass to the trustee of testamentary trust. The trustee then has the power to decide how assets are distributed and invested. The benefits can include– 

  • Asset Protection,
  • Financial and tax planning activities 
  • May provide some protection in family law matters.
  • Allows appropriate control of inheritance.

Testamentary trusts can hold a diverse range of assets including real estate,shares and cash together with personal property and collectables.

A Testamentary Trust can last up to 80 years but can be wound up at an earlier date if required by consent or court order. 

f you would like to discuss the benefits of a testamentary trust for your succession planning or need assistance or advice as to whether your current Will is valid please contact Natalie Westbrook.