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.

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.