About this Episode

A simple will leaves assets directly to your beneficiaries - and that's it. A testamentary trust will keeps those assets inside a trust structure instead, which can shield an inheritance from being wasted, from bankruptcy or creditors, and from a beneficiary's relationship breakdown, while also offering tax advantages when passing wealth to children and grandchildren. If you have children, grandchildren or a blended family, the difference is worth understanding.

In this conversation:

• The key differences between a simple will and a testamentary trust will
• What a simple will does, and its limitations
• How a testamentary trust will protects an inheritance from being wasted
• Protection from bankruptcy and creditor claims
• Protection if a beneficiary’s relationship breaks down
• The tax advantages when distributing to children and grandchildren

Running time: 3 minutes, 48 seconds