Tax benefits increase with this year's Federal Budget
For some years we have been recommending to clients that they
consider the use of Testamentary Discretionary Trusts when making
or reviewing their Wills.
Testamentary Discretionary Trusts offer a broad range of options
and benefits to following generations. Some of these benefits are
explained in our
Testamentary Discretionary Trust Plain English Guide. These
Trusts are very flexible and variations can be designed to overcome
a broad range of the concerns typically expressed by clients in
considering their Wills.
One of the main advantages of Testamentary Discretionary Trusts
for most Will makers is the potential tax benefits for your family.
Infant beneficiaries earning income under a Trust established by
the Will of a deceased person are taxed as separate tax payers and
are therefore each entitled to the normal tax free threshold.
