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Discretionary Testamentary Trusts: Precedents and Commentary provides practitioners with adaptable tools to draft these complex trusts safely and easily for differing client needs.
Discretionary Testamentary Trusts (DTT's) are currently in high demand, as they offer significant tax advantages and provide valuable asset protection. The precedents contained in this text are flexible and adaptable to a wide range of client circumstances.
To achieve flexibility the central DTT precedent, the 'Boilerplate' is modular. It consists of defined elements which the practitioner can select and assemble. There are variations for particular circumstances, ensuring it is not difficult to draft a seamless DTT will. The book also contains a precedent for a trust for a severely disabled person.
Discretionary Testamentary Trusts: Precedents and Commentary also assists the practitioner to explain the will to the client by offering in lay person's language clause-by-clause explanations of the main Boilerplate precedent.
Rowland and Bailey provide useful examples to show how the precedents could be used in practical situations. These examples include:-