What if you could leave your children an inheritance while also putting structures in place to help protect it for their future?
In this bonus episode of the Vicca Law Podcast, Lidia Vicca explores testamentary trusts and why they have become an increasingly important consideration in estate planning.
Unlike a simple will that distributes assets directly to beneficiaries, a testamentary trust allows an inheritance to be held and managed under a trust structure established through a will.
Lidia explains the three main reasons families consider testamentary trusts: asset protection, potential tax advantages and flexibility.
She discusses how these trusts can be structured to support minor children, adult beneficiaries, people who may struggle with financial management and families concerned about relationship breakdowns or financial difficulties.
The episode also explores the costs of maintaining a testamentary trust, the importance of choosing appropriate trustees and why specialist estate planning advice matters.
Common Questions Answered in This Episode
What is a testamentary trust?
How does a testamentary trust work in Queensland?
What is the difference between a simple will and a testamentary trust will?
Can a testamentary trust protect my children's inheritance?
Does a testamentary trust protect assets during divorce?
Can a testamentary trust protect an inheritance from bankruptcy or creditors?
What are the tax benefits of a testamentary trust?
Can minor children benefit from a testamentary trust?
Who controls the assets in a testamentary trust?
Can each child have their own testamentary trust?
Can a trustee be different from a child's guardian?
Can a testamentary trust help a beneficiary who struggles with money?
What are the ongoing costs of a testamentary trust?
Is a testamentary trust worth including in my will?
Does someone owe you money? Your first step is demanding repayment! Download our FREE letter of demand template developed over 15 years of disputes practice: https://lidia-vicca.mykajabi.com/letter-of-demand
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