In Whom We Trust
For one reason or other, beneficiaries may not be able or ready to handle large sums of monies. They could be too young, too old, irresponsible, financially immature, lacking mental capacity, etc.
Intentionally or not, most people make outright gifts to loved ones during their lifetime or upon their demise. Many however, have chosen to give conditionally, instead; the latter possible with the use of Trusts. There are testamentary trusts created on one’s death through a Will; and living trusts that are created during one’s lifetime.
The person(s) entrusted to hold your assets on behalf of your beneficiaries is/are called the trustee(s). They are people you have to trust to manage your assets according to your terms and conditions. Can you?
One of the major concerns many have expressed is that the appointed trustees may not outlive the beneficiaries. What then?
- Will vs Trust
- Features of a Trust
- Testamentary Trust vs Living Trust
- Individual Trustee(s) vs Corporate Trustee
- Examples of Living Trust
- Insurance Trust
- Standby Trust
- Lasting Power of Attorney (LPA)
- The Ultimate Trust (3-in-1 Trust)
- Trust Planning Process