Is it necessary to use a Testamentary Trust in a will if your properties are already held in a family trust?
I recently had a Testamentary Trust set up for me and there is a clause in my Will that expresses the wish for the Executor of my estate to wind up my existing family trust as soon as practicable after my death. I can't see why this should happen.
Wouldn’t the Executor of my estate (acting as Appointer) appoint a new trustee, leave the investment properties in the family trust and continue distributing income to the beneficiaries who are the intended beneficiaries of the will anyway?
When should a Testamentary Trust be used?
I recently had a Testamentary Trust set up for me and there is a clause in my Will that expresses the wish for the Executor of my estate to wind up my existing family trust as soon as practicable after my death. I can't see why this should happen.
Wouldn’t the Executor of my estate (acting as Appointer) appoint a new trustee, leave the investment properties in the family trust and continue distributing income to the beneficiaries who are the intended beneficiaries of the will anyway?
When should a Testamentary Trust be used?
Last edited: