Testamentary Trusts

Testamentary Trusts are sophisticated Wills used for tax planning and asset protection.

If you have significant assets or complex family or business relationships it is advisable to speak to a testamentary trust lawyer to consider making a Testamentary Trust Will.

A Testamentary Trust Will creates a Trust whereby the assets do not go directly to the beneficiaries but instead some or all the assets can be held in Trust for the benefit of the beneficiary.  The benefits of a Will creating a testamentary trust include:

  • Asset protection
  • Tax minimisation by splitting income
  • Inheritance protected from family law disputes and vulnerable beneficiaries
  • Minimise capital gains tax and stamp duty liability
  • Protects inheritance for many generations

If you do not believe that a simple Will adequately addresses your family's tax and asset protection needs you may wish to consider a Testamentary Trust.  The creation of a Testamentary Trust is much more complicated than a simple Will and our specialist Testamentary Trust lawyers in Parramatta are experienced in this area and can provide you with expert advice to assist in your estate planning.  Please note that the creation of a Testamentary Trust is a sophisticated document and requires significant additional time in liaising with your accountant and financial advisors and as such involves additional time and costs.

Need further help?

We can discuss any queries you may have at an initial consultation.  This information is complex but by no means is it tailored to your circumstances.  Please contact us to make an appointment with one of our trust and estate planning lawyers at our Parramatta office.