Testamentary Trusts : Strategies and Precedents (previously titled Discretionary Trusts, Precedents and Commentary), 2nd edition
Testamentary Trusts: Strategies and Precedents provides practitioners with adaptable tools to draft and utilise these complex trusts safely and easily for differing client needs.
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Building on the success of the first edition (previously titled Discretionary Trusts, Precedents and Commentary), this new edition has been expanded to cover all types of testamentary trusts.
The central purpose of this book is to provide a flexible and easy-to-use system for drafting discretionary testamentary trusts. The system is intended to allow practitioners to deal with what has always been a very complicated and difficult problem: modifying a discretionary testamentary trust precedent to accommodate the widely different family circumstances and testamentary wishes which testators present to the drafter. One testator will want a common option: to provide for a spouse; and if the spouse predeceases the testator, the testator’s children. If a child predeceases the testator, the children of that child will represent that child and take what the predeceased child would have taken. All beneficiaries are to take their inheritance through a discretionary testamentary trust. However, other testators have different and more challenging requirements.
To this end, Chapter 8 contains the Model Testamentary Trust precedent, as well as a clause-by-clause commentary on it. The precedent forms the foundation of every variation of the discretionary testamentary trust, and it is on this foundation that the variations are built by inserting clauses from Chapter 9. Chapter 10 contains a representative sample of widely different family situations for which a testator may wish to provide, as well as including flexible alternative clauses. In addition to providing a modular drafting precedent, the book also covers strategies dealing with superannuation (Chapter 6), family provision (Chapter 11) and blended families (Chapter 12).
- Authoritative and comprehensive
- Nationwide coverage
- Detailed precedents drafted by experts
Birtles,C and Neal,R, Hutley’s Wills and Precedents, 9th ed 2016
Perkins,M and Monahan,R Estate Planning: A Practical Guide for Estate and Financial Services Professionals, 4th ed. 2015 .
Table of contents
Chapter 1: Introduction to Estate Planning and Testamentary Trusts
Chapter 2: Tax and Testamentary Trusts
Chapter 3: Asset Protection and Testamentary Trusts
Chapter 4: Social Security, Testamentary and Special Disability Trusts
Chapter 5: Insurance and Estate Planning
Chapter 6: Superannuation and Succession Planning
Chapter 7: A System for Drafting Testamentary Trusts
Chapter 8: Model Discretionary Testamentary Trust Precedent
Chapter 9: Variations to the Model Testamentary Trust and a Trust for a Disabled Person
Chapter 10: Examples of Precedents Applied
Chapter 11: Family Provision Strategies
Chapter 12: Blended Family Strategies