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


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


Related News


Budget 2024-25

The 2024-25 Federal Budget is the third for the Albanese Government and consistent with previous years, the primary themes are expected to be the cost of living and the economic shift to net zero.

15 Apr

Warning on SMSF asset valuations

The ATO has issued a warning to trustees of SMSFs about sloppy valuation practices.

27 Mar

My Reflections on Our 2-Day Corporate Retreat

Running a business is not just about crunching numbers and meeting targets; it's also about fostering a strong team dynamic and creating a shared vision. That's why I recently organized a 2-day corporate retreat for the entire SMART team at Phillip Island, and it turned out to be an unforgettable experience.