Wills & Testamentary Discretionaty Trusts

Wills are a common part of most people’s estate plan. Under the Succession Act, parties now have much greater flexibility with the design
of their Estate Plan to incorporate Testamentary Discretionary Trusts.

A Trust is a legal entity where one person holds the title of a property for the benefit of another person. A trustee is a person who takes the
ownership in “trust” for another person (the beneficiary). A Testamentary Discretionary Trust is created in a will, which gives trustees
control over the distribution of assets to beneficiaries.

The advantages of setting up a Testamentary Discretionary Trust in your will include:

There are many types of Testamentary Trusts, a couple of common examples include:

It is important to recognise that testamentary trusts are not suitable in all circumstances. But if you wish to set up a testamentary trust or
want to learn more, contact Streeterlaw Sydney lawyers, who have the expertise to set up a trust tailored to your individual circumstances.