We can assist with any of your Estate Planning matters including:

We’d love to hear from you…

A Testamentary Trust can be a tax-effective way to distribute bequeathed assets

Are you concerned about the tax implications for the beneficiaries of your Will? If so, you may wish to consider a Testamentary Trust.

What is a Testamentary Trust?

A Testamentary Trust is a trust established by a Will that comes into effect following the death of the Will maker (Testator) and the completion of the estate administration. It addresses specific conditions relevant to any of the beneficiaries.

Tax-effectiveness is not the only reason to include a Testamentary Trust in a Will.

A Testamentary Trust may also be beneficial for the following types of beneficiaries:

  • Minors (to put funds in trust until they reach a certain age)
  • Children with special needs, providing a way to ensure proper ongoing care
  • People suffering from a disability that makes them incapable of handling their own financial affairs
  • Business owners, where liability risk could threaten their inheritance

There is no legal limit on the number of Testamentary Trusts a Will can establish. It is therefore prudent to establish a separate Testamentary Trust for each beneficiary, where appropriate.

To learn more about Testamentary Trusts and whether or not they would suit your specific needs, contact Aubrey Brown Lawyers, the Central Coast’s most experienced Estate Planning solicitors.

Our team of specialist staff are ready to help.