Trusts have many different forms and functions.
There are many types of trusts; however, there are two categories: living and testamentary.
Living Trust – Like a will, a living trust will require you to transfer property after death to loved ones. It is called a living trust because it is created while the property owner, or trustor, is alive. However, unlike a will, a living trust passes property outside of probate court. There are no court or attorney fees after the trust is established.
Your property can pass immediately and directly to your named beneficiaries whenever needed.
Testamentary Trust is a trust that you create instructions from your will. You name a trustee (person in charge) and conditions that beneficiaries inherit. A testamentary trust does not avoid probate as it would be created upon your will instructions.
You can create wealth management from the grave by leaving more explicit instructions than in your will.
Benefits of Trust
- Managing assets.
- Protecting assets.
- Controlling distributions.
- Providing privacy.
- Avoiding compulsory succession.
- Multiplying tax exemptions.
- Saving taxes.
- Preserving disability benefits.
- Helping charity.
We specialize in a diverse set of bespoke wealth management solutions meant to protect you and your assets from both the uncertainties and eventualities of life. Our services include:
- Helping you stay in charge of what happens to your possession when you die.
- Ensuring your beneficiaries (especially those most vulnerable) are taken care of.
- Catering to the tax concerns of UK citizens who live abroad as well as those with international family ties or investments
- Helping you secure your digital property in an increasingly digital world.
- Providing advice and solutions for leader replacement in cases of retirement or death.
- Ensuring someone is assigned to carry out your wishes in the event you are unable to do so.
All of our processes require an in-depth knowledge of the laws and taxes applicable locally and globally.
They also require the flexibility to create unique solutions that cater to the specific situations and scenarios our clients bring to us.