Testamentary Discretionary Trust Wills

The Testamentary Discretionary Trust Will is simply a will that offers additional asset protection for your estate, by establishing a testamentary trust for your beneficiaries.  The testamentary discretionary trust is a valuable estate planning tool because it offers the benefits of asset protection and tax minimisation opportunities, all within a flexible package.

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A primary benefit of the testamentary discretionary trust is that you can protect your estate and the inheritance you are passing on from the threats of divorce/relationship breakdowns, bankruptcy, or even from the vulnerabilities of the beneficiaries themselves.  This is accomplished by giving the inheritance to a trustee of the testamentary trust established by your will, who then holds those assets for the benefit of the persons named by you in your will.  That trustee can then determine when, and how much, they will distribute to any of the beneficiaries you have nominated.  Where any dangers arise, the flexibility offered by the testamentary discretionary trust then allows the trustee to refrain from giving any assets to a beneficiary in a dangerous financial position (such as going through a marital breakdown), so that the inheritance is not at risk of being wasted. 

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In addition to being able to advise and assist in the preparation of testamentary discretionary trust wills, Ashton Estate Lawyers can also advise and incorporate other asset protection mechanisms into your estate planning, such as a Special Disability Trust where you have a disabled beneficiary. 

During our estate planning matters, we will also advise you as to potential options related to your estate planning and circumstances, together with strategies to minimise the likelihood of complications or disputes about your will and estate, to ensure that you have an effective overall estate plan.  Contact us today for a free 15-minute initial telephone conversation regarding your circumstances, needs, and whether a testamentary discretionary trust is suitable for your needs.