When it comes to divvying up your estate after death, testamentary trusts are often touted as an option. They can be a way to ‘rule from the grave’, giving you more control over the way your assets are distributed – placing them in a trust, rather than having them given directly to your beneficiaries…

While more Australians are aware of the importance of having a will, simply buying a do-it-yourself will kit from a newsagent and filling it out yourself can cause more problems than it solves.
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The Selths believe their testamentary trust strategy will make it more transparent and equitable for all beneficiaries. “We had a will but it didn’t embrace everything we wanted. We knew where we wanted the money to go but we wanted to be sure the beneficiaries were our kids but that they were protected in the case of divorce.”..

The below list of related terms are by no means exhaustive, but they are a good starting point for anyone contemplating either beginning, ending or clarifying a important relationship that either involves us directly, or involves someone we care deeply about. ..

With one-in-three marriages in Australia ending in divorce, it’s important for parents to consider how estate plans are impacted if their child’s relationship ends…