The combination of life insurance and testamentary trusts provides an excellent estate planning strategy. Satisfies many of the estate planning objectives of our clients. Income splitting examples.
Testamentary trusts are trusts that come into existence or are funded on the death of an individual.
A trust is an arrangement where property or investments are held by a trustee for the benefit of one or more beneficiaries. The beneficiaries are usually the surviving spouse, children and grandchildren. Often there is one trust for each surviving family member. By the Will of the deceased 2. B.C. The trust designation is essentially a trust prepared by a Trust Lawyer and signed by the insured that attaches to all or part of the proceeds of a life insurance policy.