What are the benefits of a testamentary trust?

A testamentary trust offers a wealth of benefits to testators and their beneficiaries, including:

Tax efficiencies

Enjoy significant tax advantages through income splitting. By distributing income to beneficiaries in lower tax brackets, the overall tax burden on the estate’s income can be significantly reduced, increasing financial benefits for your loved ones.

Greater control

Retain control over how your assets are managed and distributed after your passing. You can include specific instructions, such as provisions for the ongoing care of dependent family members, ensuring your wishes are carried out exactly as intended.

Asset protection

Add a layer of protection for inherited assets, shielding them from external risks such as creditors, bankruptcy, divorce, or other challenges your beneficiaries might face.

Flexibility

Customise terms to suit the unique circumstances of your family and beneficiaries, ensuring the trust meets their needs now and in the future.