{"id":177763,"date":"2023-09-03T18:50:27","date_gmt":"2023-09-03T08:50:27","guid":{"rendered":"https:\/\/propertyupdate.com.au\/?p=177763"},"modified":"2024-05-03T09:28:00","modified_gmt":"2024-05-02T23:28:00","slug":"testamentary-trusts-guide","status":"publish","type":"post","link":"https:\/\/propertyupdate.com.au\/testamentary-trusts-guide\/","title":{"rendered":"Why Testamentary Trusts Aren\u2019t Just for the Rich: A Guide to Safeguarding Your Legacy Introduction"},"content":{"rendered":"

The topic of inheritance is often shrouded in a cloud of complexity and misconception.<\/p>\n

Many people think that sophisticated estate planning tools like testamentary trusts are only for the wealthy elite.<\/p>\n

However, this couldn't be further from the truth.<\/p>\n

With rising divorce rates and the increasing complexity of modern families, testamentary trusts and other estate planning strategies are becoming essential for people across all income brackets.<\/p>\n

\"Testament\"<\/p>\n

The shift from straight gift wills<\/span><\/h2>\n

Traditionally, many parents opted for \"straight gift\" wills, which simply divide assets among beneficiaries.<\/p>\n

However, the landscape is changing.<\/p>\n

Family law specialists note that over half of the wills being prepared now aim to exclude children's spouses or partners from inheriting in case of a separation.<\/p>\n

Testamentary trusts are becoming the go-to solution for this, offering both asset protection and tax benefits.<\/p>\n

Benefits of a testamentary trust<\/span><\/h2>\n
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Ask the Tax Expert \u2014 Understand the benefits of a Testamentary Trust in estate planning<\/div><\/div>
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