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Testamentary trusts: The need for integrity, effectiveness and quality

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Published on 01 Feb 19 by "THE TAX SPECIALIST" JOURNAL ARTICLE

The greatest transition of intergenerational wealth and an ageing population are together compounding the complexity of modern succession planning. Against this socio-economic backdrop, the utility and relevance of testamentary trust structures cannot be understated. The income tax benefits and asset protection afforded by testamentary trusts can achieve significant outcomes for the succession of family wealth. However, testamentary trusts should not be viewed as a “catch-all” vehicle that are relevant or appropriate for use in all circumstances. There is an increasing need for advisers to turn their minds to the integrity, effectiveness and quality when drafting testamentary trusts to ensure that their clients’ succession planning objectives can be achieved.

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Emily Anderson
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