Welcome to the Will Wizard blog

What are the tax rates on testamentary trusts? What is the capital gains tax rate on a trust?

The income tax rates on income earned from assets in a testamentary trust are the same as personal income tax rates.

Standard Will or Testamentary Trust Will? Make an informed choice.

We've created this simple video that explains the differences between standard Wills and comprehensive testamentary trust Wills.

Is stamp duty payable on a testamentary trust?

Stamp duty is not payable on the transfer of assets into a testamentary trust, unlike the transfer of assets to a trust during your lifetime

Can you vest (end or terminate) a testamentary trust?

Yes - you wind up or vest (end) a testamentary trust at any time, however it does depend on the terms of the trust. Testamentary trusts...

Can a testamentary trust lend money to beneficiaries?

It depends on the terms of the trust, which are the rules by which the trust is managed.

Can I add money into a testamentary trust?

Any money or assets you add to an existing testamentary trust will not enjoy the tax and asset protection privileges of a the trust.

How does a testamentary trust work?

A testamentary trust is a trust created by a Will on the death of a Will owner for the benefit of the beneficiary.

Are online Wills legal?

Yes, buying a Will online is legal. However, like all Wills, whether you have written it yourself on a napkin, gone to see a lawyer in...

Can a testamentary trust lend money to beneficiaries?

Yes. So long as the Will you are inheriting by includes the appropriate terms that allow for this.