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

23 Apr

Rebuilding After Divorce

Going through a divorce or separation is undoubtedly challenging, but it's essential to take control of your financial future. By understanding the impact of separation on your assets, seeking professional advice, and creating a solid financial plan, you can navigate this difficult time with confidence.


READ MORE READ MORE
22 Apr

Leveraging Technology to Drive Business Growth

Technology has transformed the way businesses operate, allowing them to reach new customers, expand into new markets, and improve operational efficiency.


READ MORE READ MORE
22 Apr

Achieving Sustainable Growth Through Strategic Planning

Scaling up a business is not just about increasing revenue or expanding into new markets; it's about creating a solid foundation for sustainable growth.


READ MORE READ MORE