A testamentary trust is a provision in a Will that appoints a Trustee to manage the assets of the deceased. They are especially useful where the testator has children under the age of 18 or there are disabled spouses or children.
This is a Testamentary Trust that contains a “Family Pot,” which keeps your entire estate residue in one single trust, the “family pot” until the youngest child reaches a specified age. After the youngest child reaches that specified age, the pot is divided into as many shares as there are children. When each child reaches a specified age, their trust will be distributed to them.