Testamentary Trusts Bundle Practice Guides are trusts created by will. It is usually a discretionary trust. Testamentary trusts are often recommended by financial planners and accountants. They are very useful for parents of small children (minor beneficiaries).  A testamentary trust has two main advantages for a will maker and the nominated beneficiaries: asset protection; and income splitting.

This Practice Guide explains what Testamentary Trusts are, how they work and how to put them in place. It includes three precedents of Testamentary Trusts and precedents for letters to your client, advising them about their Testamentary Trust.

Testamentary Trusts Bundle

Contents

The Practice Guide covers the following:

1  Introduction

An explanation of what  testamentary trusts are and how they work.

2  Asset protection

How Testamentary Trusts are used in asset protection.

3  Taxation

Taxation aspects of Testamentary Trusts.

4  Precedents

• The following precedents are included in the Practice Guide.
• Letter advising testamentary trust
• A letter to the client explaining how their testamentary trust works
• Letter enclosing will and signing instructions
• A letter to the client enclosing their testamentary trust and explaining how to sign it.
• Will creating one testamentary trust

Precedent will which creates one testamentary trust. The document itself contains drafting notes which can be deleted when the document is finished.

Will creating multiple testamentary trusts

Precedent will which creates multiple testamentary trusts. The document itself contains drafting notes which can be deleted when the document is finished.

• Will + testamentary trust
• A will including a testamentary trust. Simple form.
• Will signing instructions

An information sheet on how to sign your will. Can be handed to the client as a separate document or incorporated as part of a letter of advice.