2 x Wills, one for each of you
This solution is designed for you and your spouse (married or de facto partner) to leave your entire estates – aside from optional gifts of personal items and charitable donations – to your children in equal shares. If none of your children or their further descendants outlive you, you can specify “Reserve Beneficiaries” who will receive the assets.
There is an alternative Will that includes testamentary discretionary trusts (see below for more detail).
This solution is designed for you and your spouse (married or de facto partner) to leave your entire estates – aside from optional gifts of personal items and charitable donations – to your children in equal shares.
If none of your children or their further descendants outlive you, you can specify “Reserve Beneficiaries” who will receive the assets.
Note: If you know for sure that you won’t have any children when you pass away, this is not the ideal product for you.
Start now
A Testamentary Trust Will (‘TTW’) is a type of Will that establishes a Trust or Trusts upon the death of the Will maker.
A TTW is designed to protect the Will maker’s assets because they belong to the beneficiaries of the Trust rather than the individual.
This allows flexibility for how capital and income generated by those assets is distributed. The Trust is not ‘activated’ until after the death of the Will maker.
Subject to the drafting of the Will (and in contrast to a Standard Will), potential advantages of Testamentary Trusts include the following:-
When it comes to protecting wealth and making provision for loved ones, it is essential to get it right. This means seeking legal advice from a Solicitor specialising in Wills and Estates to ensure that your estate plan is tailored to the specific needs and objectives of yourself and your family.
View Standard Wills