Testamentary Trusts
Secure Your Legacy with Testamentary Trusts
A testamentary trust is a powerful estate planning tool created within your Will that only comes into effect after your death. Unlike a simple Will, which passes assets directly to beneficiaries, a Testamentary Trust offers a structured way to manage your estate, protect your assets, and provide long-term benefits for your loved ones. At Jacaranda Law, we help clients across Queensland navigate the complexities of estate planning by crafting custom Testamentary Trust Wills that provide security, tax advantages, and peace of mind.
Why Choose Jacaranda Law?
At Jacaranda Law, Wills and Estates are all we do.
That means we bring deep knowledge and years of experience in helping clients secure their assets for future generations. Our approach is personal, not transactional—we take the time to understand your goals and tailor your estate plan accordingly.
Professional Focus:
Estate planning is our core practice area.
Transparent Process:
We offer fixed fees where possible and clearly outline each step.
Personalised Support:
You work directly with experienced lawyers, not handed off to junior staff.
Plain English Advice:
No legal jargon—just clear, practical guidance you can trust.
We’re here to make the process simple, effective, and entirely tailored to your life and legacy.
Why You Might Need a Testamentary Trust
Testamentary Trusts aren’t just for the ultra-wealthy—they’re an effective option for anyone who wants added protection and flexibility in their Will. You may consider a Testamentary Trust if:
- You want to protect your children’s inheritance from divorce or bankruptcy.
- A beneficiary has a disability, mental illness, or is financially vulnerable.
- You’d like to reduce tax obligations for your beneficiaries.
- You wish to safeguard assets for future generations (e.g. grandchildren).
- You have a blended family and want to ensure fair and clear asset distribution.
This type of trust allows you to provide for your loved ones while also controlling how the assets are used—ensuring your legacy is protected for the long term.
How It Works: Our Testamentary Trust Process
Creating a Testamentary Trust through Jacaranda Law is a collaborative and well-structured process. Here’s what to expect:
Initial Consultation
We get to know your personal, financial, and family circumstances.
Estate Review
We assess your assets, liabilities, and future planning goals.
Tailored Drafting
We craft a Will that includes a Testamentary Trust, designed to match your specific intentions.
Review & Adjust
We go through your plan with you, explaining every clause so you feel confident and informed.
Execution
We arrange for signing and witnessing to ensure legal validity.
Ongoing Support
We offer updates and reviews as your life circumstances change.
Our goal is to deliver a practical and protective plan that meets your needs today and adapts with your life over time.
Types of Testamentary Trusts We Create
Discretionary Testamentary Trusts
Allows trustees to decide how income and capital are distributed, offering maximum flexibility and tax effectiveness.
Protective Testamentary Trusts
Designed for vulnerable beneficiaries such as those with disabilities, addictions, or poor money management skills.
Capital Reserved Trusts
Enables the preservation of capital for specific beneficiaries (e.g., children from a first marriage), while providing income to another (e.g., a surviving spouse).
Heritage Plan
-
Strategy Meeting (up to 1.5 hours)
-
Enhanced Will (including a Testamentary Trust)
-
Letter of Wishes - Completed with you
-
Enhanced Enduring Power of Attorney
-
Superannuation Binding Death Nomination (retail or industry fund)
-
Detailed Review and Signing Meeting (up to 1.5 hours)
-
Safe Custody Storage Included
Legacy Shield Plan
-
Detailed Strategy Meeting (up to 2 hours)
-
Executive Will (including Testamentary Trusts and other complex clauses as required)
-
Letter of Wishes - Completed with you
-
Enhanced Enduring Power of Attorney
-
Advanced Health Directive
-
Superannuation Binding Death Nomination (retail or industry fund and including Self Managed Super Funds)
-
Company/Trust Succession Recommendations
-
Detailed Review and Signing Meeting (up to 2 hours)
-
Safe Custody Storage Included
Start the Conversation Today
We’ll help you understand the benefits of each and choose what works best for your unique situation. If you’re thinking about how to best protect your family and assets, a Testamentary Trust may be the ideal solution. At Jacaranda Law, we make the process simple, supportive, and tailored to your wishes. Contact us today to start planning with confidence.
Frequently Asked Questions
What’s the difference between a Will and a Testamentary Trust?
A standard Will passes assets directly to beneficiaries. A Testamentary Trust sets up a legal structure within the Will, offering protection, flexibility, and potential tax benefits.
Is a Testamentary Trust only for wealthy families?
Not at all. It’s a smart estate planning tool for many people, particularly those with children, complex family dynamics, or vulnerable beneficiaries.
Can a Testamentary Trust be changed after I die?
The terms of the Trust are set out in your Will. However, the trustee has flexibility in how assets and income are distributed within the framework you provide.
Are Testamentary Trusts tax-effective?
Yes. Beneficiaries (especially minor children) may be eligible for tax concessions that aren’t available with a standard Will.
How much does it cost to set up a Testamentary Trust?
Costs vary depending on the complexity of your estate. At Jacaranda Law, we offer clear, fixed-fee packages wherever possible and will always discuss fees upfront.