A testamentary trust is established by your Will to provide security for your family or other loved ones. This trust is especially effective in providing for those too young or not capable to assume responsibility of inheritance. A testamentary trust, also known as a Trust Under Will, can help protect your estate and provide for your loved ones by:
Reducing the estate tax burden at your death
Meeting major expenses like education or health services
Providing lifetime support without leaving your assets directly to your beneficiaries
Maintaining a legacy to a favored charity
Not a Deposit.
Not Insured by any Government Agency.
Not Guaranteed by the Bank.
May go Down in Value.