ClearWill with Testamentary Trusts
+ 50% off your subsequent orders of the same document package within 12 months
The Cleardocs Will with Testamentary Trusts allows a will maker to:
- appoint an umpire;
- appoint advisers to the executor(s);
- make appointments in relation to existing trusts;
- create any of the following trusts:
- single or multiple testamentary discretionary trusts;
- right of residence or use and enjoyment trust;
- protected trust;
- life interest trust;
- superannuation proceeds trust;
- provide for blended families; and
- give executor(s) the power to adjust entitlements of beneficiaries.
Cleardocs also offers ClearWill Online which is available to all users and covers a wide range of scenarios.
Time taken to complete 20 minutes depending on the number of trusts.
Cost $ 528.00 (inc GST)
Printing Optional printing, binding and delivery for $ 55.00
Legal Sign-offThe master documents are written in plain language and are signed-off by our lawyers at Maddocks.
What documents are included in the Cleardocs ClearWill with Testamentary Trusts package?
The ClearWill with Testamentary Trusts document includes:
- a Will which you can tailor to your client's instructions; and
- an Establishment Kit explaining what to do next.
What information do you need to order ClearWill with Testamentary Trusts through Cleardocs?
Download our checklist of the information required to order ClearWill with Testamentary Trusts.
Who can make a Will?
Generally, in order to make a valid Will, the will maker must:
- be over 18 years old;
- have a sound mind, memory and understanding (capacity);
- intend to make a Will;
- know and approve of the contents of the Will; and
- follow certain procedural formalities to establish the Will.
Who can be an executor?
An executor must be either:
- one or more individual adults;
- a licensed Trustee Company; or
- a Public Trustee.
A public or private company cannot be an executor. If you want to appoint a licensed Trustee Company or a Public Trustee, then you should contact that body and ascertain their full and correct legal name before preparing your Will.
What is the role of an executor?
The executor deals with the deceased's person estate or assets. This includes:
- locating the original Will;
- assisting with and paying for the funeral;
- determining assets and liabilities;
- applying to court for a 'Grant of Probate' (this is the legal document issued by the court allowing the executor to deal with the estate);
- ensuring that all the deceased's debts and taxes are paid and any liabilities discharged;
- notifying beneficiaries of their entitlements; and
- distributing the assets in accordance with the terms of the Will.
Information about the trustee
The main role of the trustee is to manage funds or assets that are being held on trust for the benefit of beneficiaries until the funds or assets can be distributed. The trustee is different from the executor although in most cases will makers appoint the same person or persons to both roles.
The trustee must:
- act in accordance with the Will and the laws and duties applicable to trustees;
- keep proper accounts and records of the funds held on trust; and
- arrange for tax returns of the trust to be prepared and filed.
What is the role of a guardian?
The role of a guardian appointed under a Will is to make all major decisions about the welfare of children less than 18 years old. For example, where the child lives, medical decisions, education and religious upbringing.
Maddocks recommends that the will maker discusses their wishes with the guardian whilst they are able to do so. This will give the guardian an understanding of the will maker's wishes and the reasoning behind them.
Seek legal advice
The Wills information here should be considered general in nature, and in no way interpreted as legal advice. The summary on this page is for information purposes only.
A lawyer should advise their client on their particular circumstances and refer their client to an alternative adviser where required. The Will developed for a client should recognise that the Will only deals with estate assets owned personally by the client and attempt to balance the claims of:
- current or former spouses or partners;
- children of both current and former relationships;
- persons who the will maker has an obligation to provide for; and
- persons who might have a family provision claim against the will maker.
Questions or further information
If you have questions:
- about how to use Cleardocs, contact the Cleardocs helpline on 1300 307 343.
- about legal issues, contact the Cleardocs helpline on 1300 307 343. If you need advice, we will arrange for you to speak with a lawyer at Maddocks. The firm provides a free legal helpline in relation to the documents Cleardocs provides. If you require other legal advice in relation to your particular circumstances, then this will be charged for.
- Builds on ClearWill Online by incorporating additional features
- Provides a flexible and long term approach to protecting assets
- Allows flexibility in appointments - ensuring certainty in administration of the estate
- Facilitates tax effectiveness through testamentary trust structures
- Comprehensive will, avoiding disputes upon death or incapacitation
- Option to pre-populate power of attorney orders
- Includes copy function for address details - saving you typing
- Extensive online help and local phone support
- Easy to use question interface