+61 (3) 5911 7000 +61 (3) 5911 7000

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

2 Jun

Minimum Wage Is Going Up - Here's What Employers Need to Do

The Fair Work Commission (FWC) has handed down its 2026 Annual Wage Review, and the numbers are in. From 1 July 2026, the national minimum wage will rise by 5.97%, and modern award minimum rates will increase by 4.75%.


READ MORE READ MORE
20 May

Minimise Your Personal Tax: The Guide

Now's the time to review what strategies you can use to minimise your tax before 30 June.


READ MORE READ MORE
13 May

Federal Budget 2026/2027 - FAQs

The Federal Budget, delivered on the night of May 12 2026, was one of the most significant in years. We know you will have questions — and we have put together this document to answer the ones we are hearing most.


READ MORE READ MORE