Previously, the Testamentary Trust (TT) function was restricted by a blanket clause that only applied to a testator's minor children.
The new update allows you to create a movable TT for any beneficiary you have named under your Movable Assets or Residuary Estate, giving you complete customisation over how they receive their inheritance.
Note: A Testamentary Trust is a trust set up inside your Will to protect and manage assets for your beneficiaries. It ensures that your asset distribution aligns with specific timing or milestones you choose, which is particularly useful for young or vulnerable loved ones.
How do I unlock the option to create a Testamentary Trust on the platform?
Before you can create a Testamentary Trust, you must first select and allocate at least one beneficiary under either "Movable Assets" or "Residuary Estate". Once an asset is assigned, the platform will allow you to specify delayed distributions or milestones for that beneficiary.