Bequeath assets to a trust instead of straight to beneficiaries. Created under your will, a testamentary trust gives the appointed trustee full discretion over who benefits and to what extent.

Sometimes a will isn’t enough to protect loved ones upon your passing, especially if there are complicated finances, tax considerations, or other risks involved.

A testamentary trust can help secure and share assets in a way that works best for your family. It offers a flexible, tax-efficient structure for distributing income and gains while safeguarding against creditors and supporting beneficiaries who need help managing their inheritance.

For over 55 years, Turnbull Hill Lawyers has been helping clients across Newcastle, Maitland, Lake Macquarie, Sydney and the Central Coast to leave lasting legacies. Our solicitors can determine whether a testamentary trust is more suitable for beneficiaries than a direct distribution through your will. Whether you need to create or contest this estate planning tool, we’re here to guide you.

Creditor protection

A testamentary trust can help shield a beneficiary’s inheritance from creditors. For instance, if a beneficiary inherits through such a trust and later incurs debt – perhaps by falling behind on car loan repayments – their inheritance might remain secure.

With the right trust structure in place, creditors may be unable to claim the assets held within the trust, ensuring the wealth stays protected despite any financial challenges faced by the beneficiary.

Income splitting

A testamentary trust gives your beneficiary the flexibility to share the income generated by trust assets among other beneficiaries.

For example, the trust’s beneficiaries may include your beneficiary’s spouse and children. This trust income may be allocated to children, helping cover expenses like school fees.

Unlike income from other types of trusts, income distributed to minors from a testamentary trust is not taxed at the highest marginal rate, offering significant tax advantages.

These tax concessions extend beyond the income and capital gains from inherited assets. They also apply to earnings and gains from assets acquired using funds reinvested from the original inheritance, making testamentary trusts a smart choice for long-term financial planning.

High-risk beneficiaries

A carefully designed testamentary trust can safeguard inherited wealth and assets for high-risk beneficiaries. By tailoring the trust to their unique circumstances, you can protect their inheritance from being lost or mismanaged.

High-risk beneficiaries might include individuals facing financial difficulties, a relationship breakdown, bankruptcy, gambling issues, or substance dependencies. It could also encompass those in professions with a high likelihood of legal disputes, such as those who may face lawsuits from clients or customers.

Dependents with special needs

Creating a well-structured testamentary trust that considers your child’s unique circumstances can provide you with peace of mind. This type of trust ensures that children with disabilities or special needs receive the ongoing care and financial support they require.

Trusted with testamentary trusts since 1969

Experienced lawyers

Navigating the complexities of a trust can feel overwhelming, but you don’t have to do it alone. For over half a century, our experienced solicitors have helped individuals create tailored testamentary trusts to protect their family’s future and fulfil their final wishes.

Proactive support

We understand that timely action is often critical. That’s why our team works efficiently to address your needs, providing quick and effective solutions so you can focus on what matters most – your loved ones and their financial security.

Tailored advice

No two families are the same, and neither are their needs. We take the time to understand your unique circumstances, relationship dynamics, and goals, delivering bespoke legal advice to help you establish an effective testamentary trust.

Informed decisions

We believe in clear and practical communication, helping you understand your options and the potential outcomes. With our professional guidance, you’ll feel confident making informed decisions to protect your assets and provide for your beneficiaries.

Trusted by thousands

Families have relied on us to handle their most significant legal matters for decades. As a trusted firm for testamentary trusts in NSW, we’re committed to helping you achieve positive outcomes with compassion and expertise.

Transparent fees

We ensure you know exactly what to expect by providing a transparent and tailored cost estimate from the start. Create a testamentary trust with lasting benefits and no hidden expenses.

Plan today for peace of mind tomorrow

Our estate planning lawyers in Newcastle, Maitland, Lake Macquarie, Sydney and the Central Coast can help you establish a valid trust with complete confidence.

What our clients say

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