Testamentary discretionary trusts: practical implications
Published Date: 14 Sep 2023
Family discretionary trusts are commonly used in private family wealth management. Family discretionary trusts are an example of an inter vivos trust, that is, a trust made during the lifetime of the person. There has been an increasing appreciation of the value and utility of the benefits of incorporating discretionary trusts within the succession an estate plan of an individual. A trust created in a will or on the death of a willmaker is a testamentary trust. This article describes some of the benefits and the practical realities of implementing a testamentary discretionary trust, that is, a trust created in a will. A testamentary discretionary trust has many similarities to family discretionary trusts commonly used in private wealth management.
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- Published By: Mark Streeter
- Published On:14 Sep 2023
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