WHY A TRUST?
A Trust is the only entity in our law that can offer the individual, total asset protection; this is achieved by virtue of the fact that a Trust is not owned by any one individual, and is an entity or legal persona quite distinct from the individuals who benefit from it. This unique position allows for the separation of assets from individuals who benefit from or use the assets owned by the Trust. Once all one’s assets have been legitimately transferred to Trusts, the individuals will have divested themselves of the ownership of all their assets yet subject to certain conditions, will benefit from and enjoy the use of the assets held by the Trust.
The objective is to transfer your entire estate into a Trust. Achieving the ideal position of owning no assets. This state of affairs will eliminate taxes and duties such as estate duties and executors fees which are triggered on death. These duties and taxes are substantial and are payable in cash. In addition you will also ensure continuity for your heirs as all Trust-held assets are not frozen as part of your deceased estate. If you are working hard to build up assets and you are concerned about protecting those assets, a trust is an estate planning tool that can ensure that your assets are protected.