WILL CREATING MULTIPLE TRUSTS

Crafted by legal professionals in Australia, our documents are not only legally sound but also easily customisable to suit your needs.

Every purchase includes a free drafting handbook to guide you step-by-step.

✔  Crafted by Australian legal professionals

✔  Free drafting handbook Included

✔  Fully editable Word Format

🛒 Purchase → ⬇️ Download Instantly → ✏️ Customise & Use

At a Glance

A Testamentary Trust is established in a person’s Will, and is activated after their death. It is created to hold and safeguard all or some of the assets that a person accumulates over their lifetime, for the benefit of others, known as beneficiaries.

A trustee is nominated in a Will to manage the trust assets. The trustee is responsible for distributing the assets to the beneficiaries as per the terms outlined in the Will.

A Multiple Testamentary Trust is a Will which creates multiple testamentary trusts. The document itself contains drafting notes which can be deleted when the document is finished.

A testamentary trust may be created using specified assets, a designated portion of your estate or the entire remaining balance of your estate. Multiple trusts may be created by the one Will and it’s possible to have trusts with different provisions which can be tailored to the needs of your beneficiaries.

You can create multiple testamentary trusts in your Will if you want and you can give the executor of your Will the discretion to avoid the setting up of a trust with the consent of the beneficiary should circumstances warrant.

Creating multiple trusts within a will can offer significant benefits for managing and distributing your estate, particularly when dealing with complex family situations, varied assets, or specific financial goals.

 

A will creating multiple testamentary trusts is an effective estate planning strategy to provide long-term financial security for different beneficiaries. This type of will ensures that separate trusts are established for different family members, allowing for tailored asset protection, tax benefits, and controlled inheritance distributions.

With our multiple testamentary trusts will template, you can:

  • Establish individual trusts for each beneficiary to suit their specific needs
  • Protect assets from creditors, family disputes, and financial mismanagement
  • Ensure tax-efficient inheritance distribution for beneficiaries
  • Appoint different trustees for different trusts to manage assets responsibly
  • Secure financial stability for future generations with structured disbursements

A will including a testamentary trust is a strategic way to ensure long-term financial protection for your beneficiaries. This type of will establishes a trust upon your passing, allowing you to control how and when your assets are distributed. It is particularly useful for those with young children, dependents with special needs, or complex financial situations.

With our testamentary trust will template, you can:

  • Protect assets from creditors or family disputes
  • Provide structured inheritance payments for minor children
  • Ensure tax-effective wealth distribution for beneficiaries
  • Appoint a reliable trustee to manage funds responsibly

  • Secure financial stability for your family’s future

INCLUDES

CONTENTS

 

  •          Legal and financial advice
  •          Survivorship
  •          Power to disclaim
  •          Provision for spouse
  •          Executors
  •          Creation of trust
  •          Disposition of estate
  •          Children
  •          Executors
  •          Guardians
  •          Creation of trust
  •          Disposition of estate
  •          Third generation
  •          Grandchildren  3
  •          Disposition of third generation
  •          No surviving person
  •          Equalisation of benefits
  •          Property of the trust
  •          Trustees: definition & appointment
  •          Conflicts of interest
  •          Ineligible trustees
  •          Primary purpose
  •          Beneficiaries
  •          Powers of the primary beneficiary
  •          Transfer of powers
  •          Manner of exercise of powers
  •          Investment 8
  •          Powers of trustees
  •          Vesting and dissolution of the trust
  •          Executors
  •          Conflicts of interest
  •          Priorities
  •          Duty to appoint
  •          Duty to seek out superannuation death benefit nominations
  •          Self-managed superannuation funds
  •          Superannuation lump sum death benefits
  •          General powers of executors and trustees
  •          Fees and commission
  •          Interpretation
  •          Definitions

Also included free:

Will Signing Instructions

Will Signing Checklist

 

Creating multiple trusts within a will can offer significant benefits for managing and distributing your estate, particularly when dealing with complex family situations, varied assets, or specific financial goals. Here’s why you might consider setting up multiple trusts in your will:

 

 Tailored Asset Management:

  • Different Trust Types: Different types of trusts (e.g., testamentary trusts, special needs trusts, charitable trusts) can be used to address specific needs or goals. For instance, a special needs trust can ensure that a beneficiary with disabilities receives financial support without affecting their eligibility for government benefits.
  • Asset Segmentation: Multiple trusts allow you to allocate different types of assets (real estate, investments, business interests) to different trusts, enabling specialized management tailored to each asset type.

Enhanced Control Over Distribution:

  • Specific Instructions: You can set up trusts to distribute assets according to specific conditions or timelines. For example, you might create a trust to provide education funds for grandchildren, with disbursements occurring at specific stages of their education.
  • Conditional Disbursements: Trusts can specify conditions under which assets are distributed, such as reaching a certain age, achieving specific milestones, or meeting particular needs.

Protection of Beneficiaries:

  • Vulnerable Beneficiaries: Multiple trusts can protect beneficiaries who may be financially irresponsible, minors, or those with special needs. For example, a spendthrift trust can prevent a beneficiary from squandering their inheritance.
  • Legal and Financial Protection: Trusts can shield assets from creditors or legal claims against beneficiaries, offering additional financial security.

Tax Efficiency:

  • Income Splitting: Different trusts may allow for income splitting among beneficiaries in lower tax brackets, potentially reducing the overall tax burden on the estate.
  • Estate Tax Planning: Multiple trusts can help manage estate taxes by using various strategies such as gifting to heirs or charitable donations.

Preservation of Wealth:

  • Long-Term Planning: Trusts can be structured to preserve wealth across generations, ensuring that assets are managed and distributed according to your wishes even after your death.
  • Family Business: If you own a family business, creating a separate trust for the business can ensure its smooth transition to heirs and maintain its operational integrity.

Charitable Giving:

  • Charitable Trusts: Establishing a charitable trust allows you to allocate part of your estate to charitable causes. This can provide both philanthropic satisfaction and potential tax benefits.
  • Legacy Planning: Charitable trusts can help you leave a lasting impact on causes you care about while also potentially reducing estate taxes.

Flexibility and Adaptability:

  • Changing Needs: Multiple trusts allow you to address various aspects of your estate plan, adapting to changing family dynamics or financial situations over time.
  • Customisation: Each trust can be customised to meet specific needs, providing a more flexible and comprehensive estate plan.

 

 

 Get Your Template

Fully editable & ready to download instanty

 Instant download + free drafting Guide.

 

 

✔  Secure checkout

✔  Instant Download

✔  Australian-law-compliant