The Willo Blog

A testamentary trust is a type of trust that is created in someone’s last will and testament. This trust is used to manage and distribute a person’s assets after they die. When the person with the testamentary trust in their will dies, the trust becomes irrevocable and is managed by a trustee until it is terminated. Testamentary trusts can be used for a variety of reasons, such as distributing assets to a beneficiary at a later date or in phases. However, these trusts require the will to go through probate before they can be created and may also have ongoing fees associated with them. There are other types of trusts that may have similar benefits and fewer disadvantages.

Purchasing a second home, whether for personal enjoyment or as an investment, is a significant financial milestone. It’s important to consider the estate planning implications of this decision to ensure that your assets are protected. Here are some things to keep in mind as you move forward with this major purchase.

When someone’s property gets held up in probate court, the process can take weeks (if not months) to wade through the legal paperwork in order to take control. Here are 9 simple ways to make sure your property doesn’t get caught up in the courts.

Knowing when to update your Will is useful in case you have a major life event (like having a child or buying a property).

As important as creating your Will is, it is just as important to make sure that your property is titled correctly.