Testamentary trusts are one of the most powerful estate planning tools available. The phrases ‘testamentary trust’, ‘testamentary discretionary trust’, TT, TDT…. are all just ‘lawyer speak’ for a trust set up in a will that starts when the willmaker dies. They are very similar to a family trust (more technically known as a discretionary trust) but a testamentary trust is established by a person’s will and remains dormant, ready to start when a person dies.
Download our guide to testamentary trust wills below.