Tax Effective Will
"Tax Effective" Wills take advantage of the
substantial taxation benefits available from the ability to
distribute to minors until they reach the age of 18
years.
The "Tax Effective" Wills are an extension of the "Basic
or "Standard" Will options. They are capable of being
tailored to meet individual circumstances.
"Tax Effective Wills" make use of short form testamentary
trusts. These are trusts that usually have a limited
duration. Where it is required to set up trusts to exist for
longer periods, consideration should be given to the use of a full
discretionary testamentary trust.
Tax Effective Wills make use of just one aspect of the potential
uses of testamentary trusts. There are a large range of situations
that are not tax related where testamentary trusts are very
useful.
Read about who Tax Effective Wills might be appropriate for and some
examples of their operation.
Read generally about testamentary trusts.