Trust Planning

Trust planning is an essential tool in planning for your estate. It also allows for risk management and insurance planning as well as family wealth and business succession planning.

According to OSK Trustees, trusts help preserve your wealth – not only from creditors and claimants, but also from excessive spending by your beneficiaries. A trust helps you to ensure that your wealth is held for successive generations. Trusts also help to distribute your wealth as having a Will may not be sufficient enough to deal with the distribution of your estate especially if you are leaving behind a business.

Trusts also help to manage your wealth as you can achieve confidentiality by concealing the identities of your beneficiaries. You can set up a trust to ensure that your loved ones are taken care of in the areas of education, maintenance and medical expenses. The following are type of trusts commonly used:

• Insurance Trust
• Private Purpose Trust
• Asset Distribution Trust
• Charitable Trust
• Investment Trust
• Business Continuation Trust