About this Episode

A special impromptu episode, recorded on a hotel couch after a succession law conference. When the 2026 Federal Budget landed, clients started calling with questions about what it meant for discretionary and testamentary trusts - so Danielle sat down with two fellow succession lawyers to talk through what was known, and what wasn't, in real time. Danielle is joined by Chris Herrald of Extension Legal and Chelsea Baker of Baker Hastings Lawyers, both also founders of The Succession Studio. It's a candid, practitioner-to-practitioner conversation about a moving picture.

In this conversation:

• Why it was genuinely early days – no draft legislation had been released
• The likely industry advocacy around testamentary trusts and family protection
• Why testamentary discretionary trusts remain a powerful planning tool regardless of tax treatment – particularly for minors, business-owning beneficiaries, vulnerable family members, and beneficiaries facing relationship or spendthrift risk
• What people with estate plans in progress should do in the meantime

Guests: Chris Herrald, Director, Extension Legal; and Chelsea Baker, Director, Baker Hastings Lawyers – both founders of The Succession Studio
Host: Danielle Little, Founder and Principal
Released: 19 May 2026
Running time: 5 minutes, 40 seconds