The phrases ‘testamentary trust’, ‘testamentary discretionary trust’, TT, TDT…. are all just jargon for a trust set up in a will that starts when the willmaker dies. They are very similar to a family trust but a testamentary trust is established by a person’s will and remains dormant, ready to start when a person dies.

Life is unpredictable, and the unexpected can happen at any stage, leaving us incapacitated and unable to manage our affairs. Whether through illness or accident, the need for someone to make decisions on our behalf becomes crucial.

As we move through life it’s not unusual that the one aspect that often remains unexplored until necessary is estate planning. Assigning an executor for your estate is a pivotal decision that requires thoughtful consideration.

It’s time to talk about something crucial that often gets overlooked - making a will. I know, it might not be the most exciting topic, but trust me, it's one of the most important things you'll do in your life.

There’s no doubt that with estate planning comes a web of legal terms and jargon that can be overwhelming for the average person. Here we walk you through Testamentary Trusts.

Click through to download our Guide to Making a Will

This booklet provides a guide, in question and answer format, for executors about their role, their obligations and what is involved in managing and finalising an estate in Victoria

This booklet provides a guide, in question and answer format, for beneficiaries about what is means to be a beneficiary, what is required of them and what is involved in managing and finalising an estate in Victoria.