Season 2 Ep. 16 Trusts and your Estate Plan
This episode of The Vicca Law Podcast explores the often misunderstood relationship between family trusts and estate planning. While many individuals benefit from assets held in discretionary family trusts—particularly those tied to business interests—there is a common misconception that these assets can be gifted through a will. In reality, because trusts are separate legal structures, their assets do not form part of a person’s estate. This means they cannot be directly distributed through a will. Instead, control of the trust must be carefully planned for. The episode unpacks the key elements of a trust deed and highlights why reviewing this document is essential when preparing an estate plan. It explains the role of trustees and appointors, and why their succession—particularly in the event of death or incapacity—must be clearly defined. Where corporate trustees are involved, listeners are reminded to also consider company constitutions and shareholdings, as control of the trust typically follows corporate control. For anyone with a family trust, this episode provides crucial insights into how to preserve and protect trust assets across generations through effective legal planning.
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