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.
Capital Gains Tax is also not payable on the transfer of assets into a testamentary 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.
We've taken the hassle out of having comprehensive testamentary trust Wills.
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Will Wizard Co-Founder
As always, if you have questions about the suitability of any Will for your needs and circumstances, seek independent legal advice.