Generally speaking, you can manage your estate planning in order to direct what property of yours you would like to find its way into a testamentary trust created under your will for your beneficiaries after you die. But the following should be borne in mind.
Property that you hold as a joint tenant with another person will not pass via your estate or be dealt with under your will. That property will automatically pass by operation of law to the surviving joint tenant. This is usually the case with a family home held as joint tenants by spouses. Then, after the death of the second spouse, that property would ordinarily be dealt with under the surviving spouse’s will and may then be settled on the testamentary trust.
If you would like more information, contact Hansons Lawyers Wills and Estates team on 4222 2666.