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trusts

Helping the next generation along

Legacy & Trusts

Trusts

At the heart of it, your trust is the legacy you leave behind for the ones who'll come after you.

For those of you with children, your wishes might include:

  • Providing lifetime gifts (for children or grandchildren)
  • Providing a recurring income plan for their lives – recent new innovations in insurance plans can now provide a lifetime income (guaranteed for some type of plans)
  • Buying an endowment plan that will mature on a future special occasion – simple insurance endowment plans can also provide a nice sum of money to your child or grand-child when they reach special milestones in life, such as their 30th birthday
  • Setting up an investment plan to kick-start their retirement plan – a portfolio of good quality diversified assets can grow and later be assigned to your child or grandchild

Some issues concerning wealth transfer to children:

  • Fairness vs equity when distributing your assets
  • Children with different callings and career paths – how to help and affirm their values
  • Challenges when children are very young:
    • Inability to manage their share of the estate
    • Will relatives want the burden of managing your estate and taking care of your children?
  • Challenges when children have an incapacity, e.g. physical or psychiatric impairments

The use of trusts can help solve some of these challenges as compared to an outright bequest. Talk to us to find out how we can work together with our strategic partners and meet your needs when you are no longer around, whether those needs involve wealth distribution, philanthropy or tax minimisation.

Schedule a consultation with us

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