Literally, a testamentary trust is a trust in a will. A testamentary trust is also referred to as a will trust and is a trust that arises upon the death of the testator, who is specified in the will. A will may contain more than one testamentary trust and may address all or any portion …Read More
What is a Testamentary Trust?
>In this third part, we’ll go through some of the things you should consider and other common terms you will come across. Legal Will – Marriage & DivorceMarriage revokes/ cancels a will. Thus, a new will should be arranged soon to include and provide for your spouse. On the other hand, revocation of wills due …Read More
> Beneficiaries are persons or entities that you have selected in your Will to receive part or all of your assets in the event of your death. You can select anyone that you like, and more than one person or entity can share in your estate. Examples of beneficiaries include: Spouses and partners Children Parents …Read More
> The Executor will distribute your Estate to the beneficiaries you select in your Will. However, not all beneficiaries will take their gift straight away. The following are examples of beneficiaries that cannot hold their gift in their own right: Children (under 18 years of age) Persons who have a legal disability (for instance mental …Read More