With a Hansons Lawyers testamentary trust the trustee (controller) of each testamentary trust you create is also the primary beneficiary of their own trust.

That person (your spouse, child or other nominated beneficiary) becomes ineligible to be the trustee and have control of their own trust if they have problems with debt or are in a failing relationship. Those events trigger their ineligibility to hold the office of trustee and this in turn bolsters the asset protection features of the trust.

If such ineligibility is triggered, the primary beneficiary remains a beneficiary along with the other potential beneficiaries of the trust, but they have legal ownership and control of the trust taken away. They are restored to their role as trustee and officeholder as soon as the events triggering ineligibility have been resolved. So, for example, if you’re beneficiary becomes bankrupt they will be removed as trustee during the period of the bankruptcy but will be restored as trustee after being discharged from bankruptcy.

The temporary removal of your primary beneficiary from the office of trustee never takes away the right of your beneficiary to benefit from the trust.