While Trusts are traditionally used for minimizing estate taxes, there are also many other considerable benefits that they can be used for. One such example is to give rules on how to and when to distribute a lump sum of money left in a Will for the benefit a severely disabled person. Doing it this way can keep the money away from being assessed when means tested benefits are calculated. Or a suitable trust can be created to benefit a child on achieving certain goals or reaching certain stages or to cater for particular needs such as education.
There are so many options available, particularly as part of a well drafted Will. Contact us to discuss your requirements and needs and we can advise.