Testamentary Trust

Do you want a tax effective Will that protects your assets even after your death?

A Testamentary Trust is fundamentally a sophisticated Will that allows you to provide taxation benefits to your spouse after your death. It also allows you to protect your estate from bankruptcy.

Unlike a Trust established in a “standard” will which usually holds a specific gift in trust for a specific beneficiary, a Testamentary Trust usually holds the possessions of the will writer in trust for a range of beneficiaries. This allows your executor to determine who should get what given the specific circumstances. Although this seems more complicated and appears that you have less control over what happens to your possessions, it provides greater flexibility and protection for your assets and the beneficiaries you have nominated.

For example: Let’s say you have a daughter and you leave your estate to her. Unfortunately after you die she gets divorced…what happens? Well, most likely half the estate you left her is split between her ex-husband who may have had an affair on your daughter! If you nominated your daughter as one of the beneficiaries in a Testamentary Trust then the Executor could provide the benefit to her over a longer period of time thus meaning she never actually took possession of the gift and therefore it does not form part of the estate that is split between her and her ex-husband.

Because this is a Trust created in a Will it will only operate from the date of your death.

Recommended by leading financial planning organisations as well as leading commentators such as Paul Clitheroe, the Testamentary Trust is the most effective Legal Will product available.

A Testamentary Trust is perfect for those that have children from a previous marriage as it allows you to set up multiple trusts to provide for your loved ones.

The Testamentary Trust is provided in conjunction with our associated solicitors and on completion you need to make contact with the nominated solicitor to arrange a review of your Will to ensure that you fully understand the document and that it reflects your wishes. We will provide the Solicitor’s details to you via email following the submission of your Will.

  • With the step-by-step process you are guided through the Testamentary Trust creation online.
  • Choose the Singles Testamentary Trust for one person for $660 or select a Couples Testamentary Trust for $990 to save you time and money.
  • When we have received your completed and submitted Will we will advise you via email of the solicitor’s details so you can contact them directly to arrange your review either by phone or Skype.

After your Testamentary Trust has been finalised, we strongly recommend that you place it in a safe location and notify your Executor/s so they can access it at the necessary time.

legalwill.com.au is proud to be associated with Will Store Pty Ltd – a specialist storage company for Last Wills and Testaments that offers a storage and update service in conjunction with the preparation of your Trust online.

For as little as $25 per annum, your legal documents will be stored in a fireproof safe and are accessible at any time. Click here for more information.

Please note: Payments are processed via Paypal however you don’t have to specifically use a Paypal account, you can also pay by credit card. Simply click on the Paypal icon and you can then choose the option to pay by credit card.

When you have paid for your online Will via Paypal you will be directed back to the legalwill.com.au website. From here you can either purchase additional products or you can immediately access your email to obtain confirmation of your purchase and the link to your online document so you can get started straight away.

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