The Weekly Times - 17th January, 2018

Real Estate & Investment
Wednesday 17 January, 2018 THE WEEKLY TIMES 21
ake sure you have a Testamentary Trust in your Will
SORRY to start the year with something gloomy, but this is important.
If you and your partner die
when your child is 12, your assets,
super money and life insurance
payout will be put in his/
her bank account on their 18th
birthday.
I don’t need to tell you what
a kid at this age would do with
that, particularly after a few years
of being parentless.
Well, this is exactly what happens
if you don’t have a Testamentary
Trust.
You see, Estate Planning is all
about Asset Protection.
Forget the tax benefits for a
second, but in the above scenario,
you could defer the time when
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your kids get their hands on your
estate to a time when they are
more likely to make sensible decisions,
say at 30 years old.
But there’s more.
Let’s say that only you die, and
your partner lives on.
No doubt you intend for the
assets that you have built up together
to be passed down to the
children you have had together?
Unfortunately, if you don’t have a
Testamentary Trust in your Will,
that’s not usually how things pan
out.
When your partner re-partners,
there is a very high likelihood that
some (or all) of your family assets
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will end up with the new guy or
gal, or even the new guy or gal’s
children.
Without a Testamentary Trust,
there is nothing in place that says
your assets must go to your kids
when your partner has finished
with them.
Anyway, a Testamentary Trust
can effectively ‘bubble wrap’
your assets.
I choose to be a lending and
home loan specialist, but as a
trained financial advisor and
carer of our iChoice clients, it’s
my job to keep all my clients protected
in all facets of finance.
I’m bringing the best Estate
Jason Khoury
The Barefoot Broker
Planning solicitor in
town to present at our
next Free Information
Night probably in
March, which we’ll extend
an invite to all TWT
readers.
I don’t like these seminars
just to all be about
money and home loans
etc so keep an eye out,
or if you know you need
a Will and Testamentary
Trust, maybe don’t wait
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Telephone: (02) 9617 0737 | Facsimile: (02) 9868 4899
Email: btflawyers@btflawyers.com.au
s.bilbe-taylor@btflawyers.com.au | p.foster@btflawyers.com.au
with Jason Khoury
and get it done now
(like…today).
If you have kids, not
having a Will at all is like
having a home loan rate
that starts with a 4…just
not on…sorry.
Good financial health
with the right home loans,
makes sense.
With over 20 years experience, the award
winning iChoice team can keep your
finances healthy with:
+ tax minimisation
+ asset protection, and
+ special unpublished discounted loan rates
Contact iChoice your
finance specialists today
on (02) 9743 0000
jason@ichoice.com.au
If your home or investment
loan rate doesn’t start with a 3,
call iChoice
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