A Testamentary Trust is effectively a Trust created by a Will. A Testamentary Trust can take various forms, however, the most commonly used is what would usually be described as a Discretionary or Family Testamentary Trust. At Cass Legal, we can advise you about the benefits which can be obtained by creating a Testamentary Trust under a Will. Our Gold Coast practice can advise you in this regard and help you understand the two main benefits of a Testamentary Trust, being asset protection and taxation benefits.


By creating a Testamentary Trust pursuant to your Will, the assets are placed in the Testamentary Trust and not directly into a Beneficiary’s name. This provides a level of asset protection with respect to those assets which can, depending on how the Testamentary Trust is administered, result in those assets being protected against claims that may arise from bankruptcy or family breakdowns for example.


We at Cass Legal see many clients who wish to ensure that the assets which they have amassed and worked hard for during their lives are properly protected and a Testamentary Trust is an extremely good vehicle for meeting those requirements.


A Testamentary Trust can also have significant taxation benefits as any income earned by the Testamentary Trust from investments, can be split amongst the Beneficiaries (which will usually include children and grandchildren) which can sometimes result in significant tax savings.


At Cass Legal we believe that a Testamentary Trust is an excellent tool that clients can use to achieve their wishes and we are more than happy to discuss with our clients their use and effectiveness.


Contact Murray Cass should you wish to obtain in depth advice in relation to Testamentary Trusts or Wills. Speak to our friendly staff at Cass Legal who can assist you with making an appointment today.