Testamentary Trusts - Why we believe everyone needs one incorporated into their will

HomeInsights

Testamentary Trusts
Why we believe everyone needs one incorporated into their will.


In Australia, testamentary trusts have become useful for more people than ever before. They're not just for the wealthy anymore. In this article, we'll explore how changing family dynamics, concerns about mental health, and the wealth of older Australians have made testamentary trusts important for regular folks like you and me.

 

A Change in How We Use Them

Once upon a time, only wealthy people used testamentary trusts. They used them to control what happened to their money after they passed away. Back in the early 20th century, there were fewer blended families, and men usually had more control over the money. Wives were often in a tough spot financially if their husbands died. Testamentary trusts were a way to make sure family members got money regularly and that their kids' education was paid for if something happened.

Thankfully, things have changed, and so have the reasons for using these trusts.


Setting up a testamentary trust doesn't have to be complicated, reach out to Smart Business Solutions for assistance with all your Estate Planning needs, including Wills and Testamentary Trusts, to ensure your hard-earned assets are managed in line with your preferences. 


Your Money. Your Way.

Protecting your family's financial future with testamentary trusts


READ MORE READ MORE


Related News

4 Jun

Reduce financial pressure with downsizer contributions

To be eligible to make a downsizer contribution to your super, you must be aged 55 or older and have owned your home for at least 10 years prior to the sale.


READ MORE READ MORE
4 Jun

What can we learn from the world’s most accomplished investors?

The investment market volatility that kicked off in March 2025 has felt like a punch, particularly for those in or nearing retirement.


READ MORE READ MORE
3 Jun

Hardship Happens. What Matters is What You Do Next

Struggling with loan repayments? Discover the truth about financial hardship arrangements, how they impact your credit, and the proactive steps you can take to regain control. 


READ MORE READ MORE