Why have a Family Trust?
Asset Protection simply means taking steps to ensure that if the unexpected happens then the people that you have worked hard to provide for (including yourself) are safeguarded from the sudden downturn in circumstances, which are often beyond your control.
Insure your assets through a Family Trust
In this regard Asset Protection, in the form of a Family Trust, is like a type of Insurance Policy and is one part of the Asset Protection process.
Protecting your personal assets
Properly organised with all your supporting documents in place the Family Trust ;
• Safeguards your assets from unforseen circumstances.
• Protects your assets from any business misfortune that may develop.
• Protects capital or income for your children’s or grandchildren’s education
• Protects your assets from possible future taxes such as Inheritance Tax or Estate Duty.
• May enable eligibility for assistance towards residential care or long term hospitalisation costs.
• Reduces the incidence of conflict amongst family members.
• Includes wills and powers of attorney (if you choose).
Help to set up your Trust
At the Law Connection our staff are experienced in developing Family Trusts and can make this a simple yet comprehensive process for you.
For more information, download our Family Trust Information pack.