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Can you vest (end or terminate) a testamentary trust?
Yes - you wind up or vest (end) a testamentary trust at any time, however it does depend on the terms of the trust. Testamentary trusts...
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Can a testamentary trust lend money to beneficiaries?
It depends on the terms of the trust, which are the rules by which the trust is managed.
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Can I add money into a testamentary trust?
Any money or assets you add to an existing testamentary trust will not enjoy the tax and asset protection privileges of a the trust.
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How does a testamentary trust work?
A testamentary trust is a trust created by a Will on the death of a Will owner for the benefit of the beneficiary.
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Are online Wills legal?
Yes, buying a Will online is legal. However, like all Wills, whether you have written it yourself on a napkin, gone to see a lawyer in...
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Can a testamentary trust lend money to beneficiaries?
Yes. So long as the Will you are inheriting by includes the appropriate terms that allow for this.
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Can you set up your own testamentary trust in Australia?
Yes. So long as the Will you are inheriting by includes provisions for the establishment of a testamentary trust.
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Who should be trustee of a testamentary trust?
In most cases, and depending on the terms of the trust, beneficiaries over 18 can decide who the trustee (i.e. the controller or manager)...
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What are the ongoing annual costs of of maintaining a testamentary trust?
The ongoing annual costs of of maintaining a testamentary trust really depends on whether you rely on your accountant or the services of...
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