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Testamentary Trusts in BC

Hours Updated onMarch 31, 2025 Categories Vancouver
Testamentary Trust Law in Vancouver

Testamentary Trusts in British Columbia

Most people expect to write a will at some point in their lives. However, many are not aware of the various tools at their disposal for transferring assets when creating a will. A testamentary trust can be an important aspect of your will, helping you transfer assets o a loved one according to your wishes. The estate planning experts at Vest Estate Law can help you create a will that carries out your wishes in the most effective way possible.

What is a Testamentary Trust?

Like all trusts, a testamentary trust holds assets on behalf of a beneficiary or a group of beneficiaries and is managed on behalf of these individuals by your personal representative. The key point about a testamentary trust is that it only comes into effect after you die – as opposed to a living trust, which transfers assets to a trustee during your lifetime.

Why Establish a Testamentary Trust?

A testamentary trust is a flexible way to protect the financial interests of loved ones after you pass away. This is generally a key goal of any will, so a testamentary trust becomes a dynamic tool able to help you achieve your objectives and seamlessly transfer wealth and assets to the intended beneficiaries – a spouse, children, disabled family members, or other loved ones. Assets can be in the form of property, cash, investments, etc., and the trust can manage these and any income generated from them.

Main Uses of a Testamentary Trust

The type of testamentary trust you set up will depend greatly on what you want to achieve. Most commonly, individuals create these personal trusts to achieve the following goals after they die:

  1. Protecting minor children
  2. Protecting disabled adults
  3. Protecting spouses

How are the Assets Managed in a Trust?

The person who manages the assets in a testamentary trust is called the trustee. This is often (but not necessarily) the personal representative of the deceased person’s estate. The role comes with great responsibility and requires some financial management skills.

Considering a Testamentary Trust?

The estate planning experts at Vest Estate Law are committed to helping you use your will to protect loved ones. Establishing your trust to accurately reflect your goals can be challenging. We can advise and help you set up your trust in the right way. Start with a one-on-one consultation. A lawyer will analyze your situation and advise how you can best achieve your goals.

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We also have a dedicated intake form to help you get the ball rolling. Our intake team will review your specific case and advise you on the next steps to take, as well as what to expect moving forward.

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Preet Mandair - Vest Estate Law

Preet Mandair

WILLS and ESTATES LAWYER

Preet’s practice focuses primarily on estate litigation. Preet is dedicated to providing practical and strategic advice to all clients in all aspects of estate litigation by understanding and assessing each client’s unique needs and advocating for her clients in a methodical and effective manner.

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Estate Administration (for Executors and Administrators)

Includes all aspects of finalizing an estate, dealing with the assets and debts of an estate and distribution to beneficiaries.
Many personal representatives (executors) request that estate administration lawyers administer the estate for them.

Estate Litigation (Dispute Resolution)

Estate litigation includes dispute of a will,  making a claim against the estate as a spouse of the deceased, disinheritance, or if you think there has been undue influence in the process of making a will.

Our estate litigation lawyers act for personal representatives (executors), administrators, beneficiaries, spouses and adult interdependent partners (“AIP”) of a deceased individual.

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  • Areas of Estate Law
    • Estate Administration
      • Grant of Administration
    • Estate Planning
      • Enduring Power of Attorney
      • Personal Directives
      • Will Planning
    • Estate Litigation
      • Contesting a Will
      • Elder Law
      • Estate Mediation
      • Estates & Trusts
      • Guardianship & Trusteeship
    • Grant of Probate
    • Advanced Care Planning
    • Business Owner Retirement Planning
    • Business Succession Planning
    • Charitable Giving
    • Digital Assets Upon Death
    • Testamentary Trust
  • Locations & Team
    • Meet Your Team
    • Locations
    • Contact Us
  • Knowledge Centre
    • Alberta Family Law
    • Estate Planning Info
    • Wills Deep Dive
    • Estate Administration
    • Probate Help
    • Calgary Articles
    • Edmonton Articles
    • Vancouver Articles