Wills can contain many and varied terms and conditions, however in most cases where young children are involved it is necessary to ensure that their needs are protected well into adulthood. The most common way of protecting children is with the use of a Testamentary Trust.
A testamentary trust is a trust that is created within a Will. It is a document that outlines how your funds are spent on your children.
The most common terms relate to children’s education, children’s residence, health care needs and daily support for the children.