Trusts are an ideal way to help you and your family manage and preserve your family wealth:
- They protect the spendthrift, as some would see it, from their own shortcomings by placing the control and management of funds under an independent trustee with full authority to make decisions as to how and when such funds may be spent to provide benefits.
- They can be used to assist the disabled by providing and/or enhancing their independence, well-being and financial security.
- When it comes to estate settlement, trusts can help avoid the time, expense and publicity of probate.
- Trusts can be used to transfer wealth efficiently from one generation to the next.
- By “generation skipping” with funds going from, for instance, grandparents to grandchildren, trusts can help solve family inheritance issues.
- Until Courts recognise pre-nuptial or post-nuptial agreements they do assist in protecting beneficiaries from some of the vagaries of the justice system.