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Testamentary trusts

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Category: Testamentary trusts

Estate planning for your related entities
If you have a business, company, family trust or SMSF, estate planning usually includes preparing a written estate plan to help you and your…
What is estate planning?
Estate planning is about developing a strategy to ensures that your assets are distributed according to your wishes. A comprehensive estate plan will ensure…
What is a binding death benefit nomination (BDBN)?
If you assumed that your superannuation death benefits are automatically gifted to your loved ones under your will, you wouldn’t be alone.  However, it’s…
Who will benefit from including a testamentary trust in their Will?
If you tick any of the following boxes, then you should consider using a testamentary trust in your will: There are a few more…
A few disadvantages of testamentary trusts
Control The trustee of a discretionary trust generally has complete discretion to determine who receives the income of the trust. Cost and complexity Testamentary…
More advantages of testamentary trusts
Income splitting Income can be split between beneficiaries, thereby taking advantage of beneficiaries with lower marginal tax rates. Beneficiaries who are under the age…
Testamentary Trusts if you have children over 18
If you have adult children, you should consider leaving an inheritance to them through a testamentary trust, rather than as a direct gift.  …
Testamentary Trusts if you have children under 18
A testamentary trust is a very powerful tool for families with young children.  In particular, the testamentary trust offers the following advantages: For example: …
How do discretionary trusts help minimise tax?
Testamentary trusts offer fantastic tax flexibility. In fact, testamentary trusts are the only environment where you can get such great tax treatment, and it’s only…
How do discretionary trusts offer asset protection?
The discretionary nature of the trust is what makes the trust so powerful for asset protection.  Because none of the beneficiaries own the trust assets…
Our plain-English guide Help with the difficult questions so you can stop procrastinating and make your Will has comprehensive and practical guidance to help you get your affairs in order.