What is a testamentary trust and why would we set one up?

Sometimes the traditional style of will document will not be appropriate or sufficient for your needs.  You may need to consider putting in place a testamentary trust will which means that assets in your estate instead of being left directly to your family members will be left to a testamentary trust in which some or all of your family members will be the beneficiaries of the testamentary trust.

The following are some of the reasons why a testamentary trust will may be appropriate for you:

  1. Young beneficiaries or other beneficiaries that you have concerns about that would waste their inheritance.
  2. Beneficiaries that you want to achieve some level of asset protection for either in the context of bankruptcy risk or family law marital splits.
  3. There are sufficient assets in your estate which would make it feasible and desirable to hold the assets in a testamentary trust for tax planning opportunities.

At Matthews Folbigg Lawyers we have solicitors who are experienced in drafting and advising you in relation to testamentary trust wills.

Asset protection and why is it important to me?

Asset protection is about protecting your assets so that the people you want to receive them will receive them.

Asset protection can be a particular concern of yours if for instance you have family members who may have marital problems, is in a profession or occupation with high risk of being sued or you are concerned that somebody may challenge your will and thereby reducing the share of your estate that will go to your intended beneficiaries.

At Matthews Folbigg Lawyers we have solicitors who are experienced in advising on asset protection and how you may be able to restructure your assets to bolster this objective.

Call us today on 1800 300 308