Scernario regarding Mr Xs will. Mr X owns 2 residential properties in Vic, great land value, not so great rental value, and $200k in bank. Mr X has one child only, no wife, no siblings. Mr X wishes to leave his entire estate to his daughter, Mrs Y. Mrs Y is married, and has 3 small kids. As Mrs Y is sole heir of Mr Xs estate, Mr X has capacity and is happy to comply with Mrs Ys wishes in the will, so long as Mrs Y is in complete control of estate and that grandchildren or others are not named specifically in the will, for example in terms of life interests/ right to rental etc in the residential properties. Q. What kind of testamentary trust/wording would you recommend for Mr Xs will having regard to the following. a)Mrs Y envisages that her children, as adults, may wish to live in either/all of the 2 properties. In such a case, could Land Tax (at trust rates) or GCT (upon subsequent sale ) not apply. b)Mrs Y envisages that she herself may live in either of the two properties, again, can she claim PPR exemption, or does Land Tax (at trust rates) and CGT (upon subsequent sale) still apply. (Mrs Y is currently claiming a PPR exemption on her own house that she lives in). c)Can the will be drafted in such a way that Mrs Y decides what gets dropped into the TT or what she inherits outright? d)Can Mrs Y choose to accept probate in the form of TT, and later decide to wind up the Trust without incurring Stamp Duty? ie, if kids all working, have own place to live and no benefit in income splitting and paying Land Tax surcharges. e)If a general class of beneficiaries is included in the will, can a beneficiary be a corporate entity or a super fund. Or do beneficiaries in fact have to be natural persons. Any comments appreciated.