A Testamentary Trust Will is simply a trust that is established by your will and therefore does not take effect until your death. In a ‘standard’ will the person making the will gifts assets directly to the beneficiary whereas in a testamentary trust will they are gifted to the trustee of the trust for the benefit of a range of potential beneficiaries. A testamentary trust will can be designed to provide maximum flexibility to your beneficiaries as to how they receive their inheritance.  It can allow for tax-effective distribution of capital and income as well as providing potential asset protection for your beneficiaries from third parties such as creditors and in Family Court property disputes. Testamentary trust wills are an excellent estate planning tool that should be considered for all clients irrespective of their financial position.