Testamentary Trust Lawyers Sydney, NSW
PBL Law Group is a leading NSW law firm specialising in Testamentary Trusts for superior asset protection & tax-effective wealth transfer.
- Protecting your assets for future generations.
- Strategic trusts for tax benefits & flexibility.
- Safeguarding inheritances from external claims.
- Expert guidance for complex estate planning.
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Who Our Testamentary Trust Lawyers in Sydney Help
High Net Worth Individuals
We provide sophisticated asset protection & tax-effective wealth transfer strategies for significant portfolios.
Business Owners
We integrate trusts into your succession & estate plan to protect your business & family assets.
Parents with Young Children
We establish trusts to protect & manage a child's inheritance until they reach a mature age.
Blended Families
We create tailored trusts to protect the inheritance of children from all relationships.
Vulnerable Beneficiaries
We draft specialised trusts for the long-term care & financial needs of vulnerable family members.
Our Specialised Testamentary Trust Trust Services
Discretionary Testamentary Trusts
Protective & Special Disability Trusts
Trusts for Blended & Complex Families
Real 5-Star Client Reviews
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Our Process to Establish Your Testamentary Trust
1
Consultation & Design
We start by understanding your goals & assets to design the most effective Testamentary Trust structure for you.
2
Drafting the Trust
Our lawyers meticulously draft the trust provisions within your Will, ensuring they are legally robust & secure.
3
Review & Explanation
We review the trust clauses with you, clearly explaining how the trust operates & the roles of all parties.
4
Finalisation
We guide you through the formal signing & witnessing of your Will, ensuring your trust is validly established.
Speak to Our NSW Testamentary Trust Lawyers
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Why Choose Our Testamentary Trust Lawyers
1
Proven Experience
Decades of experience drafting sophisticated Testamentary Trusts to achieve our clients’ specific goals.
2
Tailored Asset Protection
We design tailored trust structures that provide maximum protection for your beneficiaries’ inheritance.
3
Strategic Tax Advice
We provide expert advice on using trusts for tax-effective wealth transfer for future generations.
4
Clarity & Peace of Mind
Our meticulous drafting ensures your wishes are clear & legally binding, securing your legacy.
Visit Our Sydney Wills & Estate Lawyers
We provide expert wills & estate planning advice to clients across NSW. Meet with our team at our central Sydney CBD office, or at our regional offices in Gosford, Gorokan & Coffs Harbour.
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Shield Their Inheritance
A direct inheritance in a Will is unprotected. It can be lost to a beneficiary’s creditors in bankruptcy or claimed by an ex-spouse in a divorce.
A Testamentary Trust solves this. The trust, not the beneficiary, owns the assets, keeping them legally shielded & secure. Our expert lawyers draft trusts to ensure your legacy remains with your family, protected from external claims.
Minimise Tax. Maximise Inheritance.
When an estate generates income, it can be taxed at high adult rates, reducing what your family receives. A Testamentary Trust provides a powerful solution.
The trust can split the income among multiple family members, including children. Each child can receive a portion of the income tax-free up to the full adult threshold, resulting in significant tax savings. This structure legally maximises the wealth you pass on.
Speak to Our Testamentary Trust Lawyers in Sydney
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FAQs about Testamentary Trusts
What is a Testamentary Trust?
A Testamentary Trust is a trust created within your Will that comes into effect after your death. Instead of assets passing directly to beneficiaries, they are held in the trust and managed by a Trustee on their behalf.
What is the main benefit of a Testamentary Trust?
The primary benefits are superior asset protection and potential tax advantages. Assets held in the trust are protected from creditors or family law claims against a beneficiary, and income can be distributed in a more tax-effective way.
What’s the difference between a Will and a Testamentary Trust?
A Will outlines how your estate is distributed. A Testamentary Trust is a specific structure within a Will that dictates how some or all of that estate is managed and protected for your beneficiaries after you die.
How does a Testamentary Trust protect assets?
Because the assets are legally owned by the trust, not the beneficiary, they are generally shielded if a beneficiary faces bankruptcy, business failure, or a relationship breakdown.
Are there tax advantages to a Testamentary Trust?
Yes. A key benefit is that income distributed from the trust to beneficiaries under 18 is taxed at adult marginal rates, allowing access to the full tax-free threshold, which is a significant advantage.
Who is the 'Trustee' and what do they do?
The Trustee is the person or company you appoint in your Will to manage the trust. They have a legal duty to manage the trust’s assets and make distributions to beneficiaries according to the rules you set out.
Who can be appointed as a Trustee?
You can appoint a trusted family member, a friend, or a professional like your solicitor or an accountant. It should be someone capable and reliable, who will act in the best interests of the beneficiaries.
Who can be a 'beneficiary' of a Testamentary Trust?
You can name anyone as a beneficiary, including your spouse, children, grandchildren, other relatives, friends, or charities. You can also include beneficiaries who are not yet born, like future grandchildren.
Can I have more than one Testamentary Trust in my Will?
Yes. You can establish multiple trusts, for instance, a separate trust for each child or beneficiary. This can be useful for tailoring the trust’s rules to the specific needs of each person.
Can a Testamentary Trust protect a 'high-risk' beneficiary?
Yes. A trust is an excellent tool for protecting the inheritance of a beneficiary who may be vulnerable to addiction, gambling issues, or poor financial management, as the Trustee controls the distribution of funds.
What is a 'discretionary' Testamentary Trust?
This is the most common type, where the Trustee has the ‘discretion’ to decide which beneficiaries receive income or capital, how much they receive, and when. This provides great flexibility.
What assets can be placed in a Testamentary Trust?
Almost any asset from your estate can be placed in the trust, including cash, real estate, shares, investments, and other valuable items.
When does a Testamentary Trust come into effect?
The first step is to publish a notice of your intention to apply for Probate on the Supreme Court’s online registry. You must then wait at least 14 days before you can file your main application.
Can a Testamentary Trust be changed or revoked?
While you are alive, you can change or revoke the trust provisions at any time by updating your Will. Once you pass away, the trust becomes irrevocable and its terms cannot be easily changed.
Can a Testamentary Trust be contested?
Yes. Since the trust is part of the Will, it can be subject to a Family Provision Claim if an eligible person believes they have been inadequately provided for. However, a well-structured trust can be a key part of defending against such claims.
What is a Special Disability Trust?
This is a specific type of protective testamentary trust designed to provide for the reasonable care and accommodation needs of a beneficiary with a severe disability, while helping to preserve their entitlement to government pensions.
What is the difference between a Testamentary Trust and a Living Trust?
A Testamentary Trust is created by a Will upon your death. A ‘Living Trust’ (or inter vivos trust) is created and operates during your lifetime.
How long can a Testamentary Trust last?
In NSW, a standard Testamentary Trust can last for up to 80 years, allowing it to provide benefits for multiple generations.
How much does a Testamentary Trust cost?
The cost is higher than a simple Will due to its complexity. At PBL Law Group, we provide a clear fee estimate upfront. The long-term benefits in asset protection and tax savings often far outweigh the initial cost.
Why do I need a lawyer to create a Testamentary Trust?
Testamentary Trusts are complex legal structures that must be drafted precisely to be effective. An experienced Testamentary Trust Lawyers in Sydney, like PBL Law Group, ensures the trust is legally valid, achieves your asset protection and tax goals, and accurately reflects your wishes.
How Our NSW Wills & Estate Lawyers Can Assist You
Wills Drafting & Review
We draft & update clear, legally sound wills to ensure your final wishes are documented & protected.
Dispute a Will
Whether a Will is invalid or just unfair, we can help. We challenge Wills on grounds of incapacity or fraud & contest Wills for a fairer provision.
Defending a Will
We represent executors & beneficiaries to defend a will’s validity against challenges or family provision claims.
Family Provision Claims
Unfairly left out of a will? We help eligible persons contest a will & claim their fair share under the Succession Act 2006 (NSW).
Domestic Estate Planning
We create tailored estate plans to safeguard your Australian assets, minimise tax & provide for your loved ones.
International Estate Planning
Our experts advise on cross-border estate planning, international wills & trusts for tax-efficient global wealth transfer.
Grant of Probate
We guide executors through the Supreme Court process to obtain a Grant of Probate, validating the will & authorising you to act.
Enduring Power of Attorney
We prepare enduring powers of attorney to manage your future financial & legal decisions.
Enduring Guardianship
We draft enduring guardianships, appointing someone to make crucial personal, lifestyle & medical decisions if you’re unable.
Testamentary Trusts
We establish effective testamentary trusts within your will for superior asset protection, tax benefits & flexible beneficiary provision.
Intestacy Law & Advice
When a loved one dies without a will, we guide families through intestacy law to ensure the lawful distribution of assets.
Letters of Administration
We assist families in applying to the Supreme Court for Letters of Administration when there is no valid will or executor.
Estate Administration
We help executors with the administration of deceased estates, ensuring the lawful & efficient collection & distribution of assets.
Advance Care Directives
We draft clear directives outlining your medical treatment & end-of-life wishes to ensure they’re respected.
Special Disability Trusts
We establish specialised trusts to provide for the long-term care & financial security of a loved one with a severe disability.
Speak to Our Testamentary Trust Lawyers in NSW Now
We will call you within 24 hours.
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