How do I give a fixed value of assets into a Testamentary Trust?
Assuming you are giving a fixed value of assets (e.g. SGD 10 000 instead of a percentage) to a Testamentary Trust where the source of the funds come from a particular asset (e.g. a particular bank account), under the specific asset's Additional Instructions, key in the following:
A specific gift of {Currency}{Amount} shall be drawn from this asset to be distributed to My Testamentary Trust - {TRUST NAME} Trust.
OR, if you are giving a fixed value of assets (e.g. SGD 10 000 instead of a percentage) to a Testamentary Trust where the source of the funds come from your Residual Assets (i.e. all other assets including assets listed with "No specific allocation" selected, assets not listed above, and future assets), then under the Other Instructions in the Select Clauses tab, key in the following:
A specific gift of {Currency}{Amount} shall be drawn from my Residual Assets to be distributed to My Testamentary Trust - {TRUST NAME} Trust.
Additionally, please take note that you might encounter the following error while generating the Will:
The "Allocate some assets into it" error appears when our system logic is unable to automatically detect any assets that are allocated to this Testamentary Trust, for example if you do so via an open ended written instructions such as the above scenario.
If you ticked the "Bypass Trust Fund check" option, please remember to manually ensure that there are indeed asset(s) being allocated to this Testamentary Trust.
To bypass this, tick the "Bypass auto Trust Fund check" option under that Testamentary Trust page and click "Save":
