This is a Trust that comes into existence from someone having its terms stated in their will.

When someone states in their will that their assets will be held by another person (in their capacity as trustee), for the benefit of one or more beneficiaries – this will cause a Testamentary Trust to come into existence.

Typically a Testamentary Trust will operate in the same way as a normal Family Trust (inter-viros) in that it will need to lodge an income tax return and possibly prepare financial statements.

One of the things that sets a Testamentary Trust apart from a regular Family Trust is its significant tax advantages.

If you would like to discuss further please contact us:
McNamara and Co - Chartered Accountants, located minutes from the Melbourne CBD
www.mcnamaraandcompany.com.au/contact-us
Phone +61 3 9428 1062
Email admin@mcnamaraandco.com

Please refer to disclaimer at the bottom of the page.