Testamentary trust

Manage the future of your estate with a testamentary trust

Liston Newton Advisory
Liston Newton Advisory is rated 4.8 from 32 reviews

Get expert support in setting up your testamentary trust

A testamentary trust provides you with greater peace of mind, by creating a structure within your Will that delivers greater control over how the assets in your estate are distributed. However, it’s not always necessary, and educating you whether it’s required or not is part of what we do.

If a testamentary trust will work for your situation, we work with a trusted legal team to help you set up a testamentary trust as part of your Will. You can take comfort knowing your assets will be distributed the way you desire.

Estate planning advice
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At Liston Newton Advisory, we take pride in helping business owners get more out of their hard work. Our downloadable guides can give you an in-depth look at strategies and technologies that will help your business grow.

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We help you take control of every aspect of your estate

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Holistic advice

We guide you through the legal and financial process of creating a testamentary trust—including whether it’s actually necessary for your situation.

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A wealth of experience

We’ve got over 40 years’ providing estate planning services to ensure our clients, their families, and the next generation are supported.

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Make the right decisions for your future by tapping into our trusted network of lawyers, solicitors, and estate specialists.

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Systems and processes

Setting up and managing a testamentary trust provides greater control over your estate, but it can be a complex process. We help you get it right.

When thinking about the finer points of your estate, you need the experts

For both your personal finances and business finances, you’ve worked hard to get to where you are today. So you want to ensure that when the time comes your estate is managed in the way that you want.

At Liston Newton Advisory, our team will work with you to help plan every aspect of managing your estate. We’ll make sure you get the right advice and support in setting up a testamentary trust, and that your family receives the benefits when it comes time to distribute your assets.

Kieran Liston, Director | Adviser

Meet our expert team

We have worked with Liston Newton's Accountancy and Advisory Team for over a decade. During that time, our business has grown substantially both organically and through purchases. This wouldn’t have been possible without Liston Newton Advisory to assist with our business planning, providing proactive advice and ensuring our accounts were always compliant in a complex and volatile industry.
Karsten Horne
CEO, Reho Travel
Liston Newton's Accountants analysed our financial and business situation and helped us implement strategies to improve our position. Their strategies turned our business from making a loss, to recording a 6-month net profit of 36 per cent. And we are now on track to show a 240 per cent increase in turnover over the next financial year.
Lisa Clarke
SL Constructions
Liston Newton helped us move our accounting over to Xero. Their Accountant managed the set up and training so we felt comfortable with the software. We now have all our processes streamlined which gives us improved visibility of our business performance. This has allowed us to open 2 more stores without a significant increase in administration effort.
Peter Luskan

We help you manage the future of your family’s wealth

No matter what stage of your life you’re at, it’s never too early to start thinking about how your estate may be managed. Our estate planning specialists will work with you to determine your ultimate goals, and where required, support you in setting up a testamentary trust as part of your Will. We help you understand what’s involved, what the benefits are, and what this means for your beneficiaries.

This is all part of our unique methodology that helps you ensure your financial future, and that of your family, is secure.

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Choose the testamentary trust planning experts

Our team has a wealth of experience in providing estate planning services.

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Make sure your hard work pays off for your family

Get expert testamentary trust support and estate planning services, and receive peace of mind that your family’s wealth is secure.

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Frequently asked questions

What is the purpose of a testamentary trust?

A testamentary trust creates a structure that gives you more control over how your finances and assets are distributed during your estate planning. They provide clear guidelines that determine how your wealth is distributed, along with a few other big benefits:

  • Improved asset protection. A testamentary trust puts clear steps in place to ensure your wealth is managed correctly by your beneficiaries. This can be particularly useful if you’re worried about their skills in financial management, or you want to protect your assets against future marital problems.
  • Better tax minimisation. Through a testamentary trust, you can determine the exact rules for distributing your finances and assets. This allows you to distribute your wealth in the way that’s going to best minimise the tax the beneficiary pays. This can include methods such as in lump sums across different financial years, or streaming any income to beneficiaries with lower marginal tax rates.
How do you set up a testamentary trust?

A testamentary trust can be set up as part of your Will, and only comes into effect after you pass away. To set up a testamentary trust, you must:

  • Nominate your trustee and beneficiaries;
  • Specify which assets are to be placed in your trust;
  • Outline how you want the assets distributed, when, and by what mechanisms.

Then, once you pass, your Will passes through the probate process, following which the trust gets created. Your finances and assets can now be distributed.

How much does it cost to set up a testamentary trust?

A testamentary trust is considered as part of your will. As setting up a testamentary trust is more complex than a simple will, it will likely cost more than the basic $300-$1,000 fee you can expect when creating a Will. We can advise you on the right legal team to help you draft your testamentary trust, and ensure you pay a reasonable amount to protect your wealth for the future.

Do you pay tax when a testamentary trust is set up?

Typically there is no tax paid when setting up your testamentary trust. Tax only comes into effect when your beneficiaries start to receive monetary sums, or large assets.

How long can a testamentary trust last?

A testamentary trust is legally valid for up to 80 years. As such, it’s possible that your testamentary trust can be of benefit to up to two or three generations.

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