Testamentary Trust Wills

If you have beneficiaries you wish to protect you should consider creating a Testamentary trust within your will. Similarly if any of your beneficiaries have already put in place asset protection strategies due to the nature of risks they face (such as company directors, business owners, professionals or the like) it is unwise for you not to have a Testamentary trust contained in your will.

Why should I take extra steps to protect my beneficiaries?
If you have beneficiaries who are at risk of claims being made against them then your estate is also at risk. Typical instances of beneficiaries who need extra protection are where they:

• are in debt,
• are bankrupt or at risk of bankruptcy,
• are in a position of responsibility or liability,
• may be unable to manage their own affairs either through disability or addiction and
• may have a split in thier marriage or relationship.

What is the risk if I dont have a testamentary trust?

If you do not have a testamentary trust within your will then the benefit of your estate will pass to your beneficiaries absolutely and will form a part of their asset pool and therefore be available to creditors, claimants or spouses. A properly prepared trust within your Will can help protect your estate from being lost to people other than your beneficiaries.

Are there any other benefits? 

Yes. There are significant taxation benefits derived from testamentary trusts which we would be happy to discuss with you should you require any further information.

For further information please read this brochure.

For further information please contact: Simon Pattison or Ross Moschella Phone: (07) 3221 8655 email: mail@ellisonmoschella.com.au