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 created by Wills from Will Wizard can be vested at any time by the trustee (subject to the approval of the primary beneficiary - who is usually the same person). As always, seek professional financial advice before deciding if the best course of action is to terminate the trust.
At Will Wizard we believe that every Will should provide beneficiaries with the option to receive their inheritance in a testamentary trust. 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.
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As always, if you have questions about the suitability of any Will for your needs and circumstances, seek independent legal advice.