Manage and protect your assets by establishing a trust with Trustees Executors

Trusts are used to protect assets for individuals and their families and are a valuable estate planning tool.

Trusts are most commonly created by a trust deed which will contain statements setting out its purpose and the way in which it will operate. There are three parties associated with a trust:

• Settlor(s): person(s) who originally establishes the trust. Usually that person(s) will sign a trust deed and place cash and/or assets (‘trust property’) to be held for certain purposes.
• Trustee(s): is the person or entity to whom the trust is given. The trustee must hold the trust property as directed under the terms of the trust and observe obligations placed on trustees by law.
• Beneficiaries: these are the people for whose benefit the trust is established.
   

   Setting up a trust

No trust should be set up without proper advice or an assessment of the impact of the trust on your overall position.

An estate plan will look at your personal circumstances, your legal obligations and any dependencies, your assets and liabilities and your future intentions with regard to your lifestyle and who will ultimately inherit your assets.

It is important that the trust is flexible, and yet has strict rules in place to ensure legality.

For this reason it is important you talk to a specialist trustee company such as Trustees Executors if you are considering a trust.

A properly established trust cannot be contested in the same way as a bequest under a will and a trust gives the settlor greater certainty that his/her wishes will be implemented.

Every person considering setting up a trust has different reasons and a different purpose in mind. Here are the more common reasons why people set up trusts.

• Protection of families
• Providing for an education
• Protection of assets against creditors or other claims
• Protection of assets for future generations
• Relationship circumstances
• Avoiding claims against your estate
• For charitable purposes
• Taxation planning

For a practical and easy way to understand how a trust can work for you click here

   Why choose Trustees Executors to be a Trustee?

Trustees Executors can act as sole trustee or as a co-trustee, and this is a beneficial role to take advantage of because as professionals we are not involved in, or subject to, the pressures of family conflicts or personal matters. 

When you establish a trust with Trustees Executors, a will is included in the package as part of your overall estate plan. 

For a complimentary consultation to discuss why a trust might be right for you, contact us today.