A testamentary trust provides you with greater peace of mind, by creating a structure within your Will that delivers greater control over how the assets in your estate are distributed. However, it’s not always necessary, and educating you whether it’s required or not is part of what we do.
If a testamentary trust will work for your situation, we work with a trusted legal team to help you set up a testamentary trust as part of your Will. You can take comfort knowing your assets will be distributed the way you desire.
We guide you through the legal and financial process of creating a testamentary trust—including whether it’s actually necessary for your situation.
We’ve got over 40 years’ providing estate planning services to ensure our clients, their families, and the next generation are supported.
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Setting up and managing a testamentary trust provides greater control over your estate, but it can be a complex process. We help you get it right.
For both your personal finances and business finances, you’ve worked hard to get to where you are today. So you want to ensure that when the time comes your estate is managed in the way that you want.
At Liston Newton Advisory, our team will work with you to help plan every aspect of managing your estate. We’ll make sure you get the right advice and support in setting up a testamentary trust, and that your family receives the benefits when it comes time to distribute your assets.
We have worked with Liston Newton's Accountancy and Advisory Team for over a decade. During that time, our business has grown substantially both organically and through purchases. This wouldn’t have been possible without Liston Newton Advisory to assist with our business planning, providing proactive advice and ensuring our accounts were always compliant in a complex and volatile industry.
Liston Newton's Accountants analysed our financial and business situation and helped us implement strategies to improve our position. Their strategies turned our business from making a loss, to recording a 6-month net profit of 36 per cent. And we are now on track to show a 240 per cent increase in turnover over the next financial year.
Liston Newton helped us move our accounting over to Xero. Their Accountant managed the set up and training so we felt comfortable with the software. We now have all our processes streamlined which gives us improved visibility of our business performance. This has allowed us to open 2 more stores without a significant increase in administration effort.
Our team has a wealth of experience in providing estate planning services.
Get expert testamentary trust support and estate planning services, and receive peace of mind that your family’s wealth is secure.
A testamentary trust creates a structure that gives you more control over how your finances and assets are distributed during your estate planning. They provide clear guidelines that determine how your wealth is distributed, along with a few other big benefits:
A testamentary trust can be set up as part of your Will, and only comes into effect after you pass away. To set up a testamentary trust, you must:
Then, once you pass, your Will passes through the probate process, following which the trust gets created. Your finances and assets can now be distributed.
A testamentary trust is considered as part of your will. As setting up a testamentary trust is more complex than a simple will, it will likely cost more than the basic $300-$1,000 fee you can expect when creating a Will. We can advise you on the right legal team to help you draft your testamentary trust, and ensure you pay a reasonable amount to protect your wealth for the future.
Typically there is no tax paid when setting up your testamentary trust. Tax only comes into effect when your beneficiaries start to receive monetary sums, or large assets.
A testamentary trust is legally valid for up to 80 years. As such, it’s possible that your testamentary trust can be of benefit to up to two or three generations.
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