How to protect your beneficiaries from death taxes, divorce and bankruptcy
3-Generation Testamentary Trusts protect your beneficiaries from death taxes, divorce and bankruptcy
A 3-Generation Testamentary Trust Will gives your beneficiaries flexibility after you die. It helps reduce death duties. It also helps protect your beneficiaries if they divorce, go bankrupt, are under 18, are vulnerable or are receiving Centrelink.
1. Death taxes
The 3-Generation Testamentary Trusts in your Will help reduce Australia’s six de facto death taxes:
- 32% tax on superannuation
- CGT
- income tax
- stamp duty
- family home held in a life estate
- joint tenancy
2. Divorce
If a beneficiary divorces, the Divorce Protection Trust helps protect the wealth you gave them in your Will.
3. Bankruptcy
If a beneficiary goes bankrupt, the Bankruptcy Trust helps protect the assets you gave them in your Will.
4. Vulnerable beneficiaries
Protection if your beneficiary is a minor, vulnerable or on Centrelink benefits.
Recommended: build a full Estate Planning Bundle
Most clients build the Estate Planning Bundle. It includes your tax-effective Will and the Powers of Attorney needed while you are alive.
Couples Bundle
The Couples Bundle includes 2 tax-effective 3-Generation Testamentary Trust Mirror Wills and 4 POAs. $1,487.
Singles Bundle
The Singles Bundle includes a tax-effective 3-Generation Testamentary Trust Will and 2 POAs. $1,051.
Only need tax-effective Wills (does not include the POAs)?
Tax-effective Mirror Wills
Two tax-effective 3-Generation Testamentary Trust Mirror Wills. No POAs. $975.
Tax-effective Single Will
A tax-effective 3-Generation Testamentary Trust Single Will. No POAs. $795.
Non-tax-effective Wills
Non-tax-effective Mirror Wills
Non-tax-effective Mirror Wills. No 3-Generation Testamentary Trusts. No Divorce Protection Trust. No Bankruptcy Trust. No Superannuation Testamentary Trust. $528.
Non-tax-effective Single Will
Non-tax-effective Single Will. No 3-Generation Testamentary Trusts. No Divorce Protection Trust. No Bankruptcy Trust. No Superannuation Testamentary Trust. $495.
Watch how the Bundles work
These walkthroughs show how to build the Couples Estate Planning Bundle and Singles Estate Planning Bundle online.
Couples Bundle walkthrough
Singles Bundle walkthrough
Protects from death duties, divorcing and bankrupt children and a 32% tax on super.
Build online with free lifetime updates:
Couples Bundle
includes 3-Generation Testamentary Trust Wills and 4 POAs
Singles Bundle
includes 3-Generation Testamentary Trust Will and 2 POAs
Death Taxes
- Australia’s four death duties
- 32% tax on superannuation to children
- Selling a dead person’s home tax-free
- HECs debt at death
- CGT on dead wife’s wedding ring
- Extra tax on Charities
Vulnerable children and spend-thrifts
- Your Will includes:
- Divorce Protection Trust if children divorce
- Bankruptcy Trusts
- Special Disability Trust (free vulnerable children in Wills Training Video)
- Guardians for under 18-year-old children
- Considered person clause to stop Will challenges
Second Marriages & Challenging Will
- Contractual Will Agreement for second marriages
- Wills for blended families
- Do Marriages and Divorce revoke my Will?
- Can my lover challenge my Will?
- Make my Will fair: hotchpot clauses v Equalisation?
What if I:
- have assets or beneficiaries overseas?
- lack mental capacity to sign my Will?
- sign my Will in hospital or isolating?
- lose my Will or my home burns down?
- have addresses changed in my Will?
- have nicknames and alias names?
- want free storage of my Wills and POAs?
- put Specific Gifts in Wills
- build my parent’s Wills?
- leave money to my pets?
- want my adviser or accountant to build the Will for me?
Assets not in your Will
- Joint tenancy assets and the family home
- Loans to children, parents or company
- Gifts and forgiving a debt before you die
- Who controls my Company at death?
- Family Trusts:
- Changing control with Backup Appointors
- losing Centrelink and winding up Family Trust
- Does my Family Trust go in my Will?
Power of Attorney
Money POAs: NSW, VIC, QLD, WA, SA, TAS, ACT & NT
- be used to steal my money?
- act as trustee of my trust?
- change my Superannuation binding nomination?
- be witnessed by my financial planner witness?
- be signed if I lack mental capacity?
- Medical, Lifestyle, Guardianships, and Care Directives:
- Company POA when directors go missing, insane or die
After death
- Free Wish List to be kept with your Will
- Burial arrangements
- How to amend a Testamentary Trust after you die
- What happens to mortgages when I die?
- Family Court looks at dead Dad’s Will