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Family At Church

TRUSTS

Trusts: Welcome

Introduction

Trusts can be an excellent way of protecting and preserving family wealth for future generations. It is essential that their structure is appropriate and that they’re managed correctly to be successful.

Trusts: Text

What is a Trust?

A Trust is a legally binding arrangement that requires three essential elements: a Trustee, Trust property and beneficiaries. A Trustee owns and manages the Trust’s assets. They do this ‘for the benefit of selected persons’ called beneficiaries. The person who establishes the Trust is called the Settlor.
The ‘Trust Deed’ holds all these relationships together and, with the relevant legislature, serves as the operating manual for the Trustees. Trusts can be an invaluable structure to separate and protect your assets and preserve your wealth for future generations or causes dear to you.

Trusts: Text

What Family Trust Planning can do?

  • Ensure wealth is passed on to beneficiaries without 'shrinkage'

  • Protect assets from creditors’ claims

  • Allow someone to continue to have control over the wealth even after his/her passing

  • Maintain confidentiality of wealth and details of its distribution

  • Ensure the wisdom in wealth creation and wealth preservation to continue in the next generation

  • Manage, preserve and grow wealth so that wealth can last beyond 3 generations

  • Prevent wealth from falling into the wrong hands (unwanted beneficiaries or non-beneficiaries)

  • Ensure smooth wealth transfer even when husband and wife are not around at the same time

  • Lay down long-term care planning for special needs eg. for disabled family member, special child or for special person

  • Contribute to charitable organisation for philantropic purposes

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Trusts: Image
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