Counterintuitively, our experience has been that wills that do not include testamentary trusts create significantly more risk than those that do. Those risk levels, driven by continuing changes in areas such as asset protection and tax planning, escalated to the point in July 2022 where View decided that the responsible approach was to offer the solution only on a customised basis via our advisory team.
Ultimately, particularly given the marginal pricing difference between wills that include testamentary trusts and those which do not, it is almost always best to include testamentary trusts; even if ultimately (following death) there is a decision not to utilise the structure.
Furthermore, the inverse argument is incorrect. That is, a failure to include testamentary trusts causes significant detriment that is often difficult - if not impossible - to remedy following death if it ultimately is determined that the structure should have been included.
To obtain a suggested scope of work and upfront fixed pricing for wills that do not include a testamentary trust, please lodge a free review.