A Testamentary Trust is a trust established under a Will, but it does not come into effect until after the death of the person making the Will. A Testamentary Trust appoints a Trustee to manage the trust and appoints beneficiaries who will benefit from the trust.
Testamentary Trusts are ideal if you have a vulnerable beneficiary, (such as a young child, a dependent adult family member or someone with a disability) that you wish to benefit from the Estate, yet who may not be able to manage the asset for a period of time or even indefinitely. A Testamentary Trust protects the beneficiary’s share of the Estate, while still enabling them to receive an income or benefit from the Estate. A Trustee of a Testamentary Trust can be a family member, or a Trustee company such as Tasmanian Perpetual Trustees.

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