Benefit Of Living Trust

Benefit Of Living Trust

  1. Distributes the way you want it to
    • For example, set goals to be achieved (such as a college degree) before your loved ones receive anything from the trust or to be used for their medical expenses. This avoids wastage of the trust fund.
  2. You decide who is to receive
    • Just like a Will, it is your choice, no one can challenge it.
  3. No fuss and instantly available as it is not part of the estate
    • No lengthy legal process. Trust Fund is readily available for the beneficiaries’ use because it is in the Trustee’s name. It complements the Will you wrote.
  4. Have a peace of mind
    • Once the trust is created and the Protector appointed, the well-being of your beneficiaries are taken care of.
  5. Assets can be protected from creditors – Irrevocable Trust
    • When assets have been in the trust for more than 5 years.
  6. Not easily contested
    • Disgruntled family members who are not receiving anything from the trust are unable to make claims against the trust because the assets are no longer under your name.
  7. Your instructions on distribution in the Trust Deed can prevent you wealth from being squandered
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