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Yes it sounds correct, a lot of things change upon death ( apart from the fact that you're no longer answering the phone), the power of attorney stops and trusts and executors start.

I can't remember if it's actually part of the will, or a secondary document that's in place and takes affect upon death. The danger as I see it is, if you left a stack of mortgaged properties to your kids and they were unable to finance them, and they had to be sold, then this would trigger CGT

Yes that's how it was explained when we set up the testamentary trust, there is no CGT when we die/kids inherit, only when they sell. The CGT is payable on sale, not death, the testamentary trust seems to overcome this problem. Our kids have testamentary trusts, and this could allow them to...

My understanding is if you have a testamentary trust, that transfers rental properties to your kids, CGT is only payable when and if they sell them. I think also that the properties have to be valued at the time the kids take possession, as this is the starting date for CGT.