Testamentary trusts for adult children
A testamentary trust can be created through your will to direct how your estate’s assets will be managed and distributed to your beneficiaries.
Here are some of the reasons why you, as a parent, might want to use long-term testamentary trusts to distribute your estate to your adult children:
- You are concerned about the potential division of assets if your adult child’s relationship were to break down.
- You want to safeguard funds from exposure to potential creditors.
- You want to provide your child with opportunities to income-split with their lower-income children.
- Your child has a disability, and you want to preserve your child’s right to receive social assistance payments.
- You are concerned about your child’s ability to handle the funds.