Great info- after selling a business interest, our adviser had us do new wills and TT only recently as part of our new direction in estate planning. Well worth the cost of setting things up!

Everything I have been fonding says this mostly benefits Attorneys because it forces the will to go through probate. Also it doesn't mean that the beneficiaries will get what the grantor wanted them to have. The trustee and put whatever they want in there and then charge the trust for cost to handle the estate, court cost for the probate process, the attorneys. So if their are heir, minor children the trustee can basically take everything on that life insurance policy that was suppised to go to the kids. When the trustee does not notify the beneficaries of anything, the kids have no recourse to even find out if they are doing the wishes of their dead loved one. Research people.

great video, thanks for sharing it Tara!

Very interesting, highly informative. Thank you.

I loved your video. Thank you. Can you do a video on how it’ll work if the parents already have few discretionary trusts which they hold investments properties in and would like to transfer all those trusts into a PD trust ? Thank you

best video on this subject

I would love to know the artist of the work hanging behind you! lovely!

Thanks for this info Tara, much appreciated. I'm wondering if you can point me to more info where, eg in my case, there are no heirs and I'd like to leave it all to a non-profit organisation, with some (I guess constrictive) conditions as to the use and development of my real estate. Tks.

Hi Tara Nice and Informative can you please advise about setup costs and whom to contact to set this up ?

Thank you Tara I now have more questions for my circumstances I am really not sure which way to go where can I start please I have an existing will but I am not happy with it at all

Is it possible to to have a combination of discretionary testamentary trust and fixed testamentary trust? For example, say the wife dies but husband survives. On the wife's death a discretionary testamentary is trigged appointing the husband as the trustee. But then if both the wife and husband die a fixed testamentary trust is trigged appointing a trusted (but not fully trusted perhaps) family member as trustee with the children of the husband and wife as fixed beneficiaries of the testamentary trust? This is to ensure the estate goes to the children and is not squandered by the family member trustee.

Hi Tara! I enjoyed your info.. I actually haven't heard of a Testamentary Trust; mostly Revocable and Irrevocable Trust. My husband has a house in NC that he's placing in Trust for his minor (I have no problem with that. We're both leaving a property to our daughters. My daughter is an adult 25 yrs old). The problem I'm having is my husband wants his ex-wife (the minor's mom) to be her trustee because that's her mom. To me, that doesn't seem wise at all....

What if a named beneficiary does not legally fit the criteria / purposes of a these trusts left to via a Protected testamentary Trust and a special disability trust?

I live in Ipswich QLD. Any recommendations for an estate planning lawyer?

Can a trustee live abroad or should they be resident in Australia

That does not sound great at all, what if that trustee has personal issues with beneficiaries especially if the trust is only set aside for specific persons how then can it be said no beneficiary has any right only to be considered if at all and then to how much and when again if and only if the trustee wants to release anything at all. What a nightmare.

I do not believe these laws apply to the united states of america. We are given no tax breaks.

20:49 untrue!!!

13:02 What about a Special Disability Trust? You are dangerously negligent!