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Asset protection is intended to secure family wealth against business and other risks. There are several ways to structure your assets to ensure proper protection of your wealth, including trusts, foundations and endowment life insurance. A Family Wealth Trust is perhaps the most effective and flexible vehicle. Property owned by a well-drafted, customized trust has great benefits that may not be seen if the property is simply owned outright by the beneficiaries. What Is A Trust? A trust is an agreement between three parties. The owner of the assets or estate is the trust’s “grantor.” The grantor transfers legal title to his or her assets to the “trustee,” for the benefit of the “beneficiaries.” A trustee may be a relative or friend, an attorney or accountant, or an organization offering such services. Trusts can be either revocable or irrevocable. A revocable trust can be changed or terminated at any time by the grantor. As such, the government considers
Via Deborah Sexton
Via Deborah Sexton
