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For business owners in the Redlands, ensuring the smooth transition of your business and assets after your passing is crucial. Wills and Testamentary Discretionary Trusts (TDTs) play a vital role in securing your legacy, protecting your family’s financial future, and ensuring the continuity of your business. In this guide, we’ll explore why having a well-structured Will and a Testamentary Discretionary Trust is essential for business owners in the Redlands.
Flexible Asset Management: Testamentary Discretionary Trusts (TDTs) offer flexibility in managing and distributing your estate. The trust can be tailored to suit the needs of your beneficiaries, providing them with access to funds in a controlled manner.
Protecting Beneficiaries: TDTs protect your beneficiaries by shielding the assets from creditors, potential legal claims, and irresponsible spending. This ensures that your estate is used in a manner consistent with your intentions.
Tax Benefits: TDTs can provide significant tax advantages. Income generated by the trust can be distributed in a way that minimizes the overall tax liability of the estate, which can be beneficial for both the trust and its beneficiaries.
Enhanced Control: As the trust’s creator, you can set specific conditions for how and when your assets are distributed. This allows you to address any special circumstances or needs of your beneficiaries.
Download our free Guide for Redlands Business Owners for Personal and Business Protection and Succession.
“MDL are a law firm with very knowledgeable and professional staff. If you are looking to have your Will updated or just get a new Will, I can’t recommend they high enough“ ~ Neville (Brookvale Creations)
Business owners in the Redlands face unique challenges and opportunities. Local legal and financial advisors can provide tailored advice to create a Will and TDT that align with regional regulations and business practices.
For business owners, succession planning is essential. Combining a Will with a TDT can ensure that your business is passed on according to your wishes, maintaining its value and operational continuity
If you own a business in the Redlands, your assets and interests are closely tied to the local community. Proper estate planning with Wills and TDTs ensures that your local business interests are preserved and managed effectively.
Download our free Guide for Redlands Business Owners for Personal and Business Protection and Succession.
For business owners in the Redlands, a well-crafted Will and Testamentary Discretionary Trust are indispensable tools for effective estate planning. They ensure that your business, assets, and family are protected, providing peace of mind and financial security for the future. Consult with a local estate planning expert to create a strategy that meets your needs and safeguards your legacy.
Have questions or need assistance? Contact our team at 07 3370 5100 or info@mdl.com.au, and we’ll be happy to help. Alternately, fill out the below form and a team member will be in touch.
We have assembled a highly experienced, capable team of legal practitioners, committed to delivering you expertise across all legal services. Find your local office:
We’re a full service law firm which has provided comprehensive legal services to Brisbane and its surrounding suburbs for more than 30 years.
Need expert legal assistance? Contact the Brisbane legal firm that genuinely looks out for your best interests. Call our team or use this form to speak to a team member.
If your matter is in progress or time sensitive call 07 3370 5100.
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