Our Approach — Belmont Legal

A plan that protects everything you've built

Estate planning is the process of arranging how your assets will be managed during your lifetime and distributed after your death. A complete estate plan typically includes:

What Is Estate Planning?

Appointing someone to manage your financial affairs if you lose capacity.
Appointing someone to make personal, lifestyle, and medical decisions for you when you have lost capacity to make those decisions yourself.
Ensuring your super death benefit goes to the right person.
Tax-effective structures that protect your beneficiaries' inheritance.
Understanding how jointly held assets, companies, and trusts interact with your will.

A testamentary trust is a trust created by your will that comes into effect after your death. Unlike a regular will that passes assets directly to beneficiaries, a testamentary trust holds assets in a protected structure.

Who should consider a testamentary trust?

Families with assets above $500,000 including investment properties and shares in addition to a family home
Parents with young children
People concerned about protection of assets passed down to children should they later divorce.
People concerned about a beneficiary's ability to manage money
Blended families where you want to provide for a partner while protecting children's inheritance

We explain testamentary trusts in plain English and help you decide if one is right for your situation

Testamentary Trusts

Tax Benefits

Income earned by the trust can be distributed to beneficiaries including minor children at adult marginal tax rates. This can save thousands in income tax each year.

Asset Protection

Assets held in a testamentary trust are generally protected from a beneficiary's creditors, bankruptcy, or family law property settlement.

Control

You can specify how and when assets are distributed. For example, you might direct that a child receives income from the trust but doesn't receive the capital until they reach age 25.

Without a proper estate plan, your family may face unnecessary legal costs, tax liabilities, and disputes that could have been easily avioded.

Blended Family Estate Planning

Every blended family is different. We take the time to understand your specific situation and create a plan that

If you've remarried or are in a de facto relationship with children from a previous relationship, a standard will may not adequately protect everyone.

Without careful planning:

Your new partner could be entitled to your entire estate under intestacy rules
Your children from a previous relationship could miss out entirely
Family disputes between step-parents and step-children are common — and expensive

Solutions we use for blended families:

Life interest trusts: your partner can live in the family home for their lifetime, with the property then passing to your children.
Testamentary trusts: separate trusts for different groups of beneficiaries
Specific gifts: ensuring sentimental items go to the right children

Learn more

Frequently Asked Questions

A will is one component of an estate plan. While a will determines who inherits your assets after death, a comprehensive estate plan also covers what happens if you lose mental capacity during your lifetime (through EPAs and EPGs), how your superannuation is handled, tax effective structures like testamentary trusts, and how jointly owned assets and business interests are managed.
The cost depends on the complexity of your situation. A simple will starts from $990, $1485 + GST for couples or partners wills. Add an EPA and EPG $250 + GST. More complex estate plans involving testamentary trusts, blended family arrangements, or business succession planning are quoted at your consultation. All fees at Belmont Legal are fixed , no hourly charges.
A testamentary trust is a trust created by your will that holds assets for your beneficiaries after your death. It provides tax benefits (income can be distributed to beneficiaries at lower tax rates, including to minor children at adult rates), asset protection (shielding inheritance from creditors or relationship breakdowns), and controlled distribution. You should consider one if you have assets above $500,000 including investment properties and shares in addition to a family home, or concerns about a beneficiary's ability to manage money.
Without proper planning, your business may be frozen during the probate or administration process. No one will have legal authority to sign contracts, pay staff, or make operational decisions until the court appoints an administrator. Business partners may have rights that conflict with your family's interests. A proper estate plan with succession provisions prevents these problems.
Yes. Property held as joint tenants passes automatically to the surviving owner by 'right of survivorship' regardless of what your will says. If you want your share of a jointly held property to be distributed according to your will, you may need to sever the joint tenancy and become tenants in common. We can check how your property is held and advise you on the best approach.
We recommend reviewing your estate plan every three years, or sooner if your circumstances change for example, marriage, divorce, birth of a child, buying or selling property, starting a business, or a significant change in financial position. Regular reviews ensure your documents remain valid and reflect your current wishes.