Trusts are a good way to manage how you give your money to your family. Trusts give you good control of who gets what, when , how they get it and why.✨
Trust are like boxes which you can put things into such as your house, valuables, cars,🚗 investments,🚁 life insurance etc into a trust.🎈
Everything in your trust are now owned by the trust which is managed by a trustee which you appoint.
The people who benefit from the trust are known as beneficiaries.😁
Trusts can be structured in a variety of ways. You can structure your trust to release assets to its beneficiaries based on hitting a particular age, getting particular grades or anything you may wish.
There are different types of trusts, which have different objectives.
Some trusts are designed specifically to distribute your assets while other trusts are in place to ensure you save on tax.
Benefits of Trusts✔
Trusts have many benefits such as:
They are tax efficient✔
They avoid probate and confusion upon death✔
They save on future legal fees✔
They provide a source of income for the beneficiaries✔😊