Yes.
So long as the Will you are inheriting by includes the appropriate terms that allow for this. Will Wizard's terms of trust are sufficiently broad to provide flexibility in how inherited wealth is managed. Below are two examples of specific trust terms related to a trust making loans: ...trustees shall have the following specific powers to: x) Make loans to any beneficiary on whatever terms including with or without interest or security; y) Borrow money, either with or without giving security, on such terms as My Executors or trustees of any trusts established under the terms of this Will deem fit and enter into any mortgage, charge, security agreement, lien or security over the whole or any part of any asset; Loans from a testamentary trust should be recorded in financial statements by your accountant or corporate trustee so that repaid loans can be put back into the trust at a later date.
At Will Wizard we believe that every Will should provide beneficiaries with the option to receive their inheritance in a testamentary trust. Only Wills that include the required testamentary trust provisions and terms can provide beneficiaries with this option.
Testamentary trusts should be discretionary (i.e. beneficiaries control their trust), individual (i.e. beneficiaries each have their own trust) and optional (i.e. beneficiaries choose whether to use the trust or not).
Will Wizard is the only online Will that provides testamentary trust provisions as standard, including broad trust terms for maximum flexibility in how a beneficiary can manage their trust depending on their changing needs and circumstances. No meetings are required, you simply complete our fun an easy online form that requires no financial details, and we then courier your secure Wills to your door for signature on delivery at no extra charge.
We've taken the hassle out of having comprehensive testamentary trust Wills.
Best of all, we provide three years free changes and a money back guarantee.
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Thanks for reading.
There is plenty of further information about our Wills, estate planning and testamentary trusts if you explore our site.
Our FAQs are a good place to start. Or watch our short 3 minute tutorial.
Alternatively, if you have a specific question please get in touch.
We’d love to hear from you.
Will Wizard Founder
As always, if you have questions about the suitability of any Will for your needs and circumstances, seek independent legal advice.
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