What is a Testamentary Trust and why would I need one?

What is a Testamentary Trust and why would I need one?

When you give an outright gift to someone under your Will, the beneficiary receives the gift from your executor, with no strings attached. The beneficiary can do what they like with it. If you impose any rules on the gift, then you have effectively created a ‘testamentary trust’, and things get a little more complicated.

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Who gets the farm?

Who gets the farm?

Do you have the right to determine who inherits your farm? The short answer is ‘not necessarily’, but there are things you can do to increase the chances of your wishes being upheld.

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