Where creating a Will can be hectic and the paperwork might bring more legal complications, trusts, on the other hand, can be more lucrative and legal friendly when it comes to protecting your own assets. In fact, most of the people who want to protect their valuable assets ensure that they sign legal trust papers and give the rights to a trustee.
What is Trust Law and how it will benefit you?
People who come to us regarding their issues about having a legal will, will sometimes choose a trust solution over a testament. Our belief is that a trust is more feasible when it comes to giving the legal ownership to a third party beneficiary under the watch of a trustee.
Basically, it’s a will minus the paperwork and the complications of the legal procedures. We will assist you in setting the various terms and conditions for the trust, and to decide which beneficiary will benefit from your trust and in what percentage. We will help you navigate the tax and probate issues which can otherwise be imposed on a Will.
Understanding of Trusts
Most don’t understand the proper utilities of a trust because it is not used only for protecting one’s assets. That being said, here are some of the best functions of a trust and how, being the grantor, you can benefit from the same.
- Trusts are meant to keep the assets safe even from the hands of one’s family members.
- Trusts also ensure the privacy of the individual’s assets.
- If you are planning a legal ownership inheritance of your estate, trusts are one of the ideal legal structures.
- Many people opt for trusts to minimize tax or other financial consequences which are imposed on the assets.
- For medical aid, trusts can be done so that you won’t have to worry about the medical treatment you will receive in your older ages.
How to file for a Trust application?
No matter which type of trust you want to file, we will aid you through the entire process. After all, that’s what we are experienced to do.
- First, you need to understand what type of trust you want to create and then we will discuss the terms and conditions for the trust.
- After this, we will file an application, with the name of the trustee and the beneficiaries.
- Once everything is completed, we will assist you in signing the documents to complete the creation of the trust.