Are Testamentary Trusts still worthwhile?
Find out what we think about Testamentary Trusts and the proposed new changes to laws affecting trusts.
This has been at the forefront of almost every conversation I have been having with clients about wills and trusts recently.
Clients who have been holding off creating a Will with a Testamentary Trust because they feared losing the tax advantages can now breathe a sigh of relief.
But that has never been the only reason to consider a Testamentary Trust.
The other part of the answer to “why create a Testamentary Trust” has never changed, but it is worth mentioning. It fell into the background while the tax question was getting all the attention:
Asset protection.
Regardless of the tax treatment, Testamentary Trusts can still provide asset protection for your beneficiaries. That alone is reason enough to create one. In fact, it is often the primary reason.
Tax advantages are a bonus.
If you have been sitting on the fence, this is your signal to move.
Let’s make one.
Want to talk it through?
Contact us for a no obligation confidential chat about your Will, your family, and whether a Testamentary Trust is right for you.
This information is general in nature and is not a substitute for legal advice tailored to your circumstances.