Rani updates her Will to insulate her daughter’s inheritance from failed relationship

Rani recently got in touch with me to update her Will. A busy professional woman in her fifties with a daughter Sneha in her early twenties and on the cusp of those years that can be fraught with bust ups and bruised hearts.

Not to mention property settlement litigation.

Rani had heard about Testamentary Trusts and was interested in whether that could help secure the inheritance her daughter would receive.

Our first consult was by phone with Rani to do some follow up discussion with her Accountant. Having only one daughter Rani was leaving her a significant asset pool which if gifted to Sneha in her own capacity would form part of any relationship asset pool and be exposed to property settlement proceedings should the relationship not work out.

Whilst not full proof, the asset protection afforded by the Testamentary Discretionary Trust would certainly insulate Sneha’s inheritance. Once she had children she would also be able to split income with them from the Trust.

Rani saw that securing her daughter’s financial future was worth the investment. Not only would the inheritance be secure but would provide significant financial benefits. In the event for example that Sneha has a partner and two children, the Trust will have the potential to provide $88,000 income per year tax free for her family.

If you would like to learn more about the advantages of a Testamentary Discretionary Trust and how they can benefit your family, please feel free to book a complimentary, no obligation discovery call. You won’t regret it!

When you have been putting something off for awhile, the hardest part is getting started. So we have built a new Will client portal to make this part as easy as possible. In 10-15 minutes you will be on your way to securing your legacy for your loved ones. Feel free to try our Wills Assessment link today.

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