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That sounds good to me, I had never considered this or even heard of a "testamentary trust". Thanks Alexlee for the info. Definitely will get a lawyer to do this.

I have no dependants or ex-husbands. I'm single. So it will be very simple - I'll be leaving everything to all my five young nieces - equal shares each. I'll get a lawyer to do it. Can anyone recommend one in Melbourne that is reasonably priced?

Like many people I don't have a will and I've been putting this off for years. Would you do a DIY will using a will kit and then lodging it with a "will bank" like the State Trustees or would you get a lawyer to draw it up for you? How much would you expect to reasonably pay someone to do...