A testamentary trust is one that is created as part of the provisions of your will to assure the long-term fulfillment of your wishes. Some of the common purposes for a testamentary trust:

Continuing Care
You can devise a trust to provide for the ongoing needs of your spouse and family, including for those who you feel have not reached the age or capability to assume responsibility for their inheritance.

Or create a trust to furnish an ongoing legacy to a favored charity. Northern Trust will invest trust assets to provide continuing income to your beneficiaries.

Meeting Major Expenses
Trust funds can be directed to meet major or unexpected expenses for your beneficiaries. For instance, a will might direct the trustee to make funds available for a child's marriage or a grandchild's education.

Preserving Your Estate
A trust can be drafted to reduce the tax burden to your estate. For instance, terms can be written to minimize overall estate tax liabilities by dividing assets into separate trusts.

With a testamentary trust, you state your intentions according to your own discretion and circumstances. And provide financial comfort to those who are important to you by extending your intentions and protection into the future.

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		Estate Planning Library - Trusts Ensure peace of mind as you provide for those close to you.