How can I provide for my testamentary trust to pay for my beneficiary’s living expenses without specifying a fixed amount?
Within the testamentary trust, add the person under Trust Beneficiary.
Select the following configurations.
| Give: | Others |
|---|---|
| On the following condition: | To pay for all his/her necessary living expenses (eg. education, medical, utility bills, food, transport etc.) until {condition}. |
Common {condition}s:
- until he/she reaches age 30
- until he/she passes away
- until he/she marries
- until he/she remarries
You can also stack in other payouts, for example to payout the Balance of the Trust Fun when the Trust Beneficiary reaches a certain age.
If you have only one beneficiary (i.e. only one trust beneficiary and the remainder beneficiary is the same person) in mind, do take a look at this article on What is the rule in Saunders v Vautier and how does it affect my trust?