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0800 292 2000
McClure Solicitors

Testamentary Trust, Glasgow, Scotland

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Testamentary Trust Solicitors

Estate planning requires careful consideration to help protect assets, and put plans in place around your specific needs. We have a team of experts who have a wealth of experience in providing estate planning solutions, all with your best interests at heart.

We know that making a legal arrangement for future generations is important and our team will help create a personal solution for you and your family.

If you would like to find out more or speak to one of our specialist solicitors, please complete the form on the right or call us on 0800 292 2037.

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Contact us for a confidential discussion about your case.

What is a Testamentary Trust Plan?

A Testamentary Trust Plan is a method of trust planning which involves passing on an inheritance to beneficiaries who cannot yet handle their finances.

Our Trust specialists can help you include a Testament Trust Plan in your Will. This will ensure that children can benefit from a Trust Fund that holds the money until they become an adult, or reach another age which you can specify in the Trust instructions.

If you want to set up a Trust to ensure that young children benefit from your estate, our experienced Trust specialists can help you.

What is the Difference Between a Will and a Testamentary Trust Plan?

Standard Will

This sets out who is to get your estate when you die. But there is no discretion or flexibility. You have to predict the future and hope you got it right. When you die, your estate needs to be distributed as in the Will. Even if it’s not what you would have wanted. There is no discretion or flexibility to alter the distribution. You have no control.

Testamentary Trust Plan

A Testamentary Trust Plan creates maximum flexibility for the Trustees to make the best decisions for your beneficiaries, based on their circumstances and the legal and tax landscape at the time. If the unexpected happens, the Trustees can take that into account. That way your wishes are implemented. In effect, you keep control through the Trustees even after your death.

Setting up a Testamentary Trust Plan

When you set up a Trust plan, there are a few things you need to include. These are:

  • The name of the beneficiary
  • The name of the Trustee
  • What assets will be in the Trust
  • When the beneficiary can access the assets held

Our expert Trust specialists will be able to ensure that your instructions are clear, concise, and legally compliant.

After you die, the Trust you have detailed in your Will is set up when your estate is settled. This means that beneficiaries will benefit from your inheritance when they reach an age when they can manage it. This is of particular importance where you have young children as beneficiaries and you don’t want them to benefit until you deem the right time.

Meet the experts

Our expert Wills, Trusts and Estates solicitors can help you structure your estate in the best way to protect your wealth for the future, provide for your loved ones and minimise tax.

Meet the whole team

Contact Us

Get in contact with our experienced legal professionals today for support with your case.

Get in touch

We recommend speaking with a solicitor to establish your specific needs based on your personal circumstances. We will provide guidance on how best to protect your assets for family members and future generations. Get in contact with our experienced legal professionals today for support with your family assets.

Other Estate Planning Services from Jones Whyte

Our team of Estate Planning specialists offers all sorts of services to manage your estate. These include:

Our expert team at Jones Whyte can provide more information on a legal arrangement that suits you and your family members. We can provide more information on various components of Estate Planning including inheritance tax planning, trust law, certain powers for Power of Attorney and information on deciding on trustees.

Contact Jones Whyte today and begin planning your estate journey with the experts.

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A list of members of our firm is available upon request from our Registered Office at The Connect Building, 3rd Floor, 59 Bath Street, Glasgow, G2 2DH

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