You should consider a Testamentary Trust if any of these factors exist:

• Creditor protection for a beneficiary
• Protecting assets from family law matters for beneficiaries (e.g. Divorce and property settlement);
• Protecting assets against new spouses or marriages;
• Education – you can leave gifts for education purposes;
• High-Risk Beneficiaries – those in high-risk professions in which their assets may be available to claim against ( e.g. Doctors, Lawyers etc)
• Risk-Taking beneficiaries/beneficiaries with ongoing issues – gambling addicts, alcoholics, drug abusers, spendthrift etc
• Taxation benefits – income splitting
• Will challenges / Family Provisions Claims
• Disabled Children

It is important to discuss with your Estate Planning Lawyer if a Testamentary Trust is right for you as these documents are extremely complex and create ongoing obligations for the Trustee you appoint.