What is a testamentary trust?
Generally speaking, a testamentary trust is included in a Will to address the specific circumstances of any beneficiaries. For example, a minor's inheritance can be included in a trust to ensure it's available to them at a later date.
A testamentary trust may be useful for beneficiaries who:
- suffer from a disability and are unable to manage their own affairs
- lack financial skill and are likely to waste their inheritance if it is paid to them directly
- run a business or work in an occupation that exposes them to liability risks that may threaten their inheritance
- earn significant income and would benefit from the ability to share income from their inheritance with other family members.
Why Maurice Blackburn?
At Maurice Blackburn we understand the circumstances that justify the inclusion of a testamentary trust in your Will, so contact us today to talk to an expert about how we can help you. Our Wills and estates lawyers are experts in the field, and we'll work to ensure all of your needs are met.
We have offices in Melbourne, Sydney, Brisbane, Perth, Adelaide, Darwin and throughout Australia, so speak to Maurice Blackburn today. We fight for fair.
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