A testamentary trust is a powerful tool in estate planning, offering a way to protect and manage your assets for the benefit of your loved ones after your death. At Alpine Legal, we provide expert legal services in creating and managing testamentary trusts, helping ensure your estate is distributed according to your wishes while providing ongoing protection for your beneficiaries.

Whether you're looking to include a testamentary trust in your will or need advice on its structure and benefits, our team of skilled will lawyers is here to guide you through the process with clarity and care.

What is a Testamentary Trust?

A testamentary trust is a type of trust that is created through a will. It comes into effect only after the testator (the person who made the will) passes away. The trust allows for assets to be managed and distributed by a trustee according to the instructions in the will, and it can be set up to benefit specific individuals, such as children or family members with special needs.

Testamentary trusts are often used to:

• Protect assets for minors (children under 18 years old) until they are old enough to manage them

• Provide for family members who may not be financially responsible or who need ongoing care (such as beneficiaries with disabilities)

• Minimise estate taxes or protect assets from creditors or claims

• Ensure that assets are distributed according to your specific wishes over time

• Protect inheritances for beneficiaries in a divorce or relationship breakdown

Benefits of a Testamentary Trust

There are several key benefits to incorporating a testamentary trust into your will:

• Asset Protection: Assets placed in a testamentary trust are protected from the beneficiaries' creditors and are not part of their estate in the event of a relationship breakdown or bankruptcy.

• Control Over Distribution: A testamentary trust allows you to specify how assets are distributed over time, ensuring that beneficiaries are cared for in a manner that suits their needs.

• Tax Benefits: Testamentary trusts can provide tax benefits by allowing income from the trust to be taxed at lower rates, particularly if the beneficiaries are minors or have special needs.

• Long-Term Protection: The assets in a testamentary trust are managed by a trustee, ensuring that they are used for the benefit of the beneficiaries in accordance with your wishes.

• Flexibility: The trust can be tailored to suit your individual needs and the needs of your beneficiaries.

How We Help

At Alpine Legal, we assist clients in creating and managing testamentary trusts by:

• Drafting a clear and legally valid will that incorporates a testamentary trust

• Advising you on the most appropriate type of testamentary trust for your situation (e.g., discretionary trusts, special needs trusts, or protective trusts)

• Assisting in the selection of trustees, guardians, and beneficiaries

• Helping you manage and administer testamentary trusts after your death

• Providing guidance on the ongoing responsibilities of trustees and how they can best manage the trust for the benefit of your loved ones

Our team ensures that your testamentary trust is structured in a way that meets your objectives and complies with relevant legal requirements.

Helping Clients Across Camberwell, Balwyn, Doncaster, Kew, and More

• Alpine Legal is based in Camberwell, and we proudly assist clients in surrounding suburbs, including Balwyn, Doncaster, Kew, Mont Albert, Templestowe, and Surrey Hills. Whether you need legal support for family law, property settlements, wills and estates, or more, our compassionate team is here to help guide you through every step.