Who can be beneficiaries of a testamentary trust?

Beneficiaries of a testamentary trust can be anyone the Testator chooses, including those named in the will.

They can be used to support children under 18 or 21, ensuring inheritance is managed wisely until they are mature enough to handle it independently, or to manage the trust themselves as trustee.

These trusts can also be designed to provide financial support for elderly or disabled individuals who are unable to manage their affairs, offering security and care.

Ultimately, all beneficiaries of a testamentary trust share two key characteristics:

• The trustee distributes funds specifically for their needs, such as living expenses, education, or other defined purposes.
• Funds are allocated solely for the uses outlined in the trust, ensuring they are managed according to the testator’s intentions.