Setting up a Trust Fund might be the best thing you ever do for your family.
However, if you don’t do it properly, you may inadvertently make things extremely difficult!
Trust Funds can be set up for a number of purposes such as providing for your children/grandchildren’s University fees, as a way to hand down property, or as a tool to pass down other inheritances and assets. Trust Funds are also great ways to set up financial security for a loved one with special needs.
There’s a huge misconception that Trust Funds are only for extremely wealthy families, for those who will one day inherit extreme wealth. This could not be further from the truth. Today, there are multiple reasons why a Trust Fund can be beneficial, regardless of how significant your wealth is.
Really smart Estate Planning includes using the vehicles and tools available to best protect your legacy, both now and in the future - and setting up a Trust Fund for your children/grandchildren can do many things, including:
Potentially reduce inheritance tax in the future
Allow you to protect loved ones with special needs
Offer protection from Divorce
Offer protection from Marriage after first death
Offer protection from bankruptcy or creditors
Setting up a Trust Fund for your children doesn’t have to be complicated, time consuming or expensive and as you’ve seen, you don’t need to have millions for a Trust Fund to be beneficial. You just need to have a desire to protect your family, and the passion to set them up for a financially responsible future.
To learn more about how a trust can help provide for your loved ones, get in touch with us on: Tel: +44 7831 379562 (UK) or +34 622 374 738 (Spain), or email me at firstname.lastname@example.org