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I set up my will so that the assets pass to a testamentary trust upon death. (The trust comes into effect upon death). I am assured by the lawyer that no capital gains tax will be payable unless the assets are sold. The document is very simple and is just part of the will. Simply states the...

Hi Battler, As I understand it, the testamentary trust is written as part of a will and comes into effect upon death - is that correct? Regards Jason.

Hi Jit, Not entirely sure, but thought there was a grace period of up to 2 yrs to sell, afterwhich there is tax payable. Regards Jason.