How Can a Testamentary Trust Help You?
One of the inquiries that ordinarily comes to the minds of individuals writing their wills is, “what is the best way to allocate my assets?” A testamentary trust is one alternative, which gives the beneficiaries many rewards, with tax advantages being the most valuable. This isn’t by any means a “one size fits all” situation; meaning a testamentary trust won’t always be the advisable choice. However, if you’re seeking a way to provide the maximum number of benefits for family members, this option is unquestionably worth a look-see. The person who has absolute control over the testamentary trust is the trustee. Two best-known powers of the trustee is control over who the beneficiaries are and how much they’ll receive. In many cases, the trustee and the beneficiary are the same individual – but not in all cases. Designating a separate trustee and beneficiary is executable if you are nervous about the trust being managed as per your wishes. Financial chaos is possible when it comes to the
