I met with a client who needs Wills with full discretionary testamentary trusts, EPAs and EPGs for himself and his wife.
He wanted AHDs (Advanced Healthcare Directives) as well, but I have persuaded him to take a different course and add some non-binding directions to the EPGs, which are not so proscriptive.
He also wants to leave some money to his church, but wants that money to come from his family trust, in a tax-effective manner. He cannot do that with his Will, because the trust property will not form part of his estate. However, we can prepare a non-revocable trust resolution, except by him during his lifetime in case he changes his mind, which takes effect on his death, and which will give effect to those wishes.
We also discussed ways of ensuring that the minimum amount of tax is paid to the ATO in relation to his and his wife’s super proceeds.