Why would I ever need to set up a Trust?
Estate planning is an important part of caring for your loved ones and ensuring that their future needs are met. One key tool in this process is the Trust, which can provide unrivalled protection and support alongside enabling you to determine how your money should be distributed over time - no matter what size fund you have.
Although Trusts may appear complex at first glance, professional guidance can make sure that they fit right into any estate plan with ease - so don't hesitate to contact a specialist today if you need help.
Establishing a Trust offers considerable advantages to those wishing to see their estate make an impact on the world before they pass. With this form of estate planning, you can ensure that your money is put towards causes close to your heart and secure greater financial stability for generations in terms of education and inheritance costs down the line - all while sidestepping probate fees so more funds are available when needed.
There are many reasons to set up a trust, but not everyone should establish one — for some, a standard will is a better choice. Although do-it-yourself kits are available, the applicable laws are complicated, and anyone considering a trust should consult a lawyer. But before calling your solicitor, read on to learn a bit more about the advantages of a trust.
A trust gives you greater protection than a will against legal action from anyone who is unhappy with the distribution of assets and decides to challenge it. This benefit alone may make some people consider a trust a good option.
Trusts provide a tremendous degree of control and flexibility for the disbursement of assets, enabling grantors to tailor their estate legacy according to their wishes. In particular, trusts can be used as an effective tool in cases where beneficiaries are inexperienced with money management or cannot responsibly handle large amounts; payments from trust funds may easily be adjusted at regular intervals instead of one lump sum.
A university trust fund allows for a tailored approach to financing education costs, providing the grantor with a degree of flexibility. From one child's tuition fees all the way through to fully covering educational expenses for multiple children and splitting any remaining assets among them - an education trust offers complete financial security in preparing your family’s future generations for success.
Setting up a trust is an effective way to secure your assets, allowing you the freedom to determine how and when they'll be enjoyed by beneficiaries.
The grantor sets out precise terms of the fund while entrusting management responsibilities to its trustee - who ensures that funds are used in accordance with their wishes. This prevents any misappropriation from taking place so that those receiving it can enjoy these resources responsibly at life's milestones or predetermined ages set forth by the grantor.
Speak to our team to assist you with the setting up of your Trust to secure your assets.