What Is A Will Trust?
A will trust comes into effect on the testator's death and grants the appointed trustees control over the estate’s assets on behalf of the beneficiaries. Specified terms are usually set out within the will on how the trust operates.
The most common will trusts are:
- life interest trusts, otherwise known as an interest in possession trust;
- discretionary trusts;
- absolute trusts, also known as a bare trust.
More information is available in the By Lawyers Wills and Trusts guides.
