Testamentary Trust


A trust established by a Will that comes into effect upon the death of the Will maker. The primary purpose of a testamentary trust is to manage estate assets in order to produce income for beneficiaries. The trust is managed by a trustee who has the discretion to control the distribution of capital and income to the beneficiaries, taking into account their other income sources and the prevailing taxation legislation. Testamentary trusts have many benefits including taxation efficiency and asset protection.

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