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.