How to Add a Testamentary Trust to Set Age Conditions for Beneficiaries

What is a Testamentary Trust?

A Testamentary Trust is a legal arrangement established by a person's Last Will and Testament. It specifies how and when assets will be distributed to named beneficiaries. This type of trust is commonly utilized by individuals with young children, allowing for the distribution of assets once the children reach a certain age, designated by you.

Learn more about Testamentary Trusts on our blog: Is a Testamentary Trust Right for You?

Does Trust & Will Provide Testamentary Trusts?

Yes, Trust & Will includes testamentary trust provisions in our Will-based plans. By selecting age-based conditions for any of your distributions, a Testamentary Trust clause will be automatically added to your Last Will & Testament. If you do not add any age conditions, a Testamentary Trust will not be generated in your final documents.

You can specify the ages as which your beneficiaries can received their distribution, but at this time you cannot specify the specific amount of the distribution at each age. The distribution is equal across the ages you specify, so if you list 3 ages at which to distribute, the beneficiary will receive 1/3 of their distribution at each age.

The age you'll put is the age you'd like them to be before receiving their distribution. If they've already hit that age prior to your passing, they'll just receive their distribution at that time. However, if you've listed an age they've not yet met, they will not receive their distribution until the age listed.

How to Add a Testamentary Trust to Your Will-Based Estate Plan

Adding age conditions to the distribution of assets integrates Testamentary Trust provisions into your Will. You can do this when you first set up your Plan or edit it later.

  1. While filling out the Estate Plan questionnaire, or editing the 'Distributions' section, you will be prompted about beneficiary distributions.
  2. Select either "at specific ages (up to three)" or "at a minimum age" to set conditions based on the beneficiary's age.
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