Everybody wants to protect their assets for the benefit of their loved ones. People are motivated to provide for their children throughout their lives and want what is best for them. Many people will draft a Will hoping to ensure that the assets that they have worked hard to acquire during their lifetime, are passed on to their children and chosen beneficiaries after their death.
However, a Will can only dispose of the assets that you own at the date of your death and if the value of these is eroded during your lifetime, there will be little if anything left for your beneficiaries to inherit.
Asset Protection Trusts are specifically designed to protect your assets for you during your lifetime.
They give you the peace of mind that your estate can be passed on securely and intact to your spouse, your children, or other beneficiaries, after your death.
A Living Trust bypasses the time-consuming process of probate. The trustees do not have to wait to carry out your instructions upon your death – they can do it immediately. You can place your assets in a Trust to make sure your beneficiaries receive them at a time that is right for you and for them. You have complete control and can decide on the trustees and what they can and cannot do. A Living Trust can also protect your share of assets for your children in the event of your partner remarrying.
