Expertise
Testamentary Trust Wills
TESTAMENTARY TRUST LAWYERS IN SYDNEY
Testamentary Trust Specialists
We take the stress out of setting up Wills, making the process seamless and straightforward. Backed by years of expertise, our team offers expert legal advice at every stage of the process.
Comprehensive Services
Whether you’re making a Will or changing one, executing a Will or disputing one, Kells is your cornerstone. Let our expert estate planning lawyers assist you.
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With offices in Sydney and the Illawarra, we are conveniently located to provide easy access to our services for clients across NSW.
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We believe every client deserves a bespoke approach. That’s why we craft solutions based on your unique needs, helping you achieve your long-term goals.
Here To Help
Do you want to ensure your assets are protected and distributed fairly to your loved ones? Are you looking to reduce taxes and administrative costs? A Testamentary Trust Will could be the solution you need.
Testamentary Trust Wills provide greater control over how your assets are managed and distributed after your death. They can protect inheritances from creditors, family law disputes, and irresponsible spending. Testamentary Trusts are also a tax-effective tool that allows income to be distributed to beneficiaries in a way that minimises tax liabilities.
The Kells team in Sydney can walk you through the process of setting up a Testamentary Trust Will. We’ll help secure your family’s future while making sure your wishes are met and your assets remain protected.
How Can Our Testamentary Trust Lawyers in Sydney Help?
Smarter estate planning is now within reach for everyday Australians. A Testamentary Trust Will allows you to control how your assets are distributed after your death while providing protection and security for your loved ones.
This type of Will can help you create a secure and well-organised estate plan. It protects your assets from creditors, family law claims, and unforeseen circumstances so they reach the people you intend. Testamentary Trusts also allow income to be distributed in a tax-effective way, helping beneficiaries reduce their overall tax burden.
These Wills are particularly beneficial for families with young children, blended families, or beneficiaries who may need financial guidance. They can safeguard inheritances from being mismanaged or lost in legal disputes.
At Kells, we recognise that estate planning is both important and deeply personal. Our experienced and reliable lawyers in Sydney are available to work with you to set up a Testamentary Trust Will that truly reflects your wishes and secures your family’s financial future.
Frequently Asked Questions
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What is the difference between a simple Will and a Testamentary Trust Will?
A simple Will outlines how your assets are distributed directly to your beneficiaries after your death. It provides a straightforward plan but offers little protection or tax benefits.
A Testamentary Trust Will, on the other hand, creates a discretionary trust upon your death. This allows your assets to be managed and distributed in a more controlled and tax-efficient way. It also provides added protection from creditors, family disputes, and financial mismanagement, which means it ensures greater security for your beneficiaries.
Kells can help you prepare either option so your Will reflects your wishes and protects your loved ones.
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What is a Testamentary Trust Will?
A Testamentary Trust Will is an effective estate planning tool that helps manage and protect your hard-earned wealth. When properly drafted, it safeguards your assets and reduces unnecessary tax.
This type of Will creates a discretionary trust for each beneficiary. The trust only takes effect after your death, allowing assets to be transferred for the long-term benefit of your beneficiaries.
In most cases, a Testamentary Trust Will sets up a beneficiary-controlled trust. This means the beneficiary has full control over their inheritance. The structure can be customised to meet your specific needs and those of your beneficiaries. Options include Protected Trusts, Staggered Release Trusts, Superannuation Death Benefits Trusts, and Special Disability Trusts.
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What are the benefits of a Testamentary Trust Will?
A Testamentary Trust Will has significant advantages and offers:
- Protection of family assets
- Significant taxation opportunities
- The power to stream income in the most tax-efficient manner
- Flexibility by giving your executors capacity to more effectively deal with your assets
- Protection for bankrupt beneficiaries, spendthrift, vulnerable children and exploitation of a disabled beneficiary
- Some protection in Family Law claims
- Beneficiaries given the opportunity to receive superannuation in the most tax-efficient manner.
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Is a Testamentary Will relevant for you?
A Testamentary Trust Will can provide a structured and thoughtful approach to estate planning. It offers a secure way to protect your assets and benefit your loved ones.
For professional advice, speak with our experienced Sydney estate planning lawyers today.
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Do you have any questions or are you looking for the right professional advice? Call us today and let our expert estate planning lawyers assist you.
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