A testamentary trust is a trust created as part of a properly drafted Will. Testamentary trusts may be drafted for the benefit of a spouse, children, or a charity. A testamentary trust for the benefit of your children can ensure that your assets will be spent for the benefit of your children, and not squandered by them, even if your children are no longer minors.
You will choose a trustee who can properly carry out the administration of the trust. We can assist you in this process.
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- The intervivos trust is drafted and funded now.
- The testamentary trust springs into being at your death.
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Intervivos trusts are drafted and funded while you are still alive. These trusts do not wait for your passing to be funded. Intervivos trusts, like other trusts, may accept funds from sources other than the original funding.
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