One of the beautiful truths in life is that we are all different. We all have our own quirks and complexities, and some of us need more financial guidance or protection than others. We can factor those needs into your estate plan. Comfort for you and protection for your loved ones.

If you want to gift part or all your estate to a loved one that is immature or unable to make sound financial decisions, is a spendthrift, or has gambling or addiction problems, then a testamentary discretionary trust (“TDT”) could be the solution.

A TDT is established by a Will and only starts after the Will-maker dies. The Will-maker’s property becomes property of the TDT. The ‘trustee’ of the TDT is in a powerful position to control how to distribute the assets and income of the trust to the beneficiaries nominated by the Will-maker. Among the beneficiaries are those loved ones that need financial guidance or protection.

By gifting via a TDT, your loved ones still receive the benefit of your gift but are protected by the control of the trustee. The trustee is someone of your choosing, and can be a trusted family member, friend, or a professional like your accountant.