Trusts & Estate Planning
Sophisticated wealth protection strategies for high-net-worth individuals, business owners, and families wanting to preserve assets across generations.
Speak to Estate PlannersAsset Protection
Shield assets from creditors, lawsuits, and beneficiaries' poor decisions.
Controlled Distribution
Set conditions on when and how beneficiaries receive their inheritance.
Wealth Preservation
Strategies to maintain and grow family wealth across generations.
What is a Trust?
A trust is a legal arrangement where you (the settlor) transfer assets to a trustee, who holds and manages them for the benefit of your chosen beneficiaries. Unlike a will, which only takes effect after death, trusts can operate during your lifetime or be created through your will.
Trusts provide flexibility, control, and protection that wills alone cannot offer - making them essential tools for complex estate planning.
Types of Trusts
Living Trust (Inter Vivos Trust)
Created and funded during your lifetime. You can be the trustee, maintaining control while alive, with a successor trustee taking over if you become incapacitated or die.
Benefits:
- • Avoids probate entirely
- • Provides for incapacity
- • Private (not public record)
- • Immediate effect
Cost: $3,000 - $10,000+
- • Setup fees
- • Asset transfer costs
- • Ongoing administration
Testamentary Trust
Created through your will and only comes into effect after your death. Common for leaving assets to minor children or beneficiaries who shouldn't receive a lump sum.
Benefits:
- • Lower initial cost than living trust
- • Protects minor children's inheritance
- • Controls distribution timing
- • Professional management
Cost: $1,500 - $5,000+
- • Part of will drafting
- • Trustee fees after death
- • Goes through probate
Insurance Trust
Holds life insurance policies outside your estate. The trust becomes the policy owner and beneficiary, with proceeds distributed according to trust terms.
Benefits:
- • Removes policy from estate
- • Controls payout distribution
- • Protects from beneficiary creditors
- • Professional management of proceeds
Cost: $2,000 - $5,000+
- • Trust setup
- • Policy transfer process
- • Ongoing trustee fees
Special Needs Trust
Designed for beneficiaries with disabilities, structured to provide for their needs without affecting eligibility for government assistance programs.
Benefits:
- • Preserves government benefits
- • Lifetime care provision
- • Professional oversight
- • Supplemental support
Cost: $3,000 - $8,000+
- • Complex drafting required
- • Specialist advice needed
- • Ongoing administration
When Do You Need a Trust?
Minor Children
Children under 21 cannot inherit directly. A trust protects their inheritance until they're mature enough to manage it - you set the age (often 25-30 or staged distributions).
Beneficiaries with Special Needs
A properly structured trust provides for disabled beneficiaries without jeopardising their government benefits.
Business Succession
Transfer business interests to the next generation while maintaining control and protecting the business from family disputes or incompetent heirs.
Asset Protection
Shield assets from potential future creditors, lawsuits, divorce proceedings, or beneficiaries' financial problems.
Blended Families
Provide for your current spouse while ensuring assets eventually pass to children from a previous marriage.
Privacy
Unlike wills (which become public during probate), trusts remain private. Asset details and beneficiaries are not disclosed.
Significant Wealth
Estates above $3-5 million often benefit from trust structures for management, protection, and generational planning.
Trust vs Will: Key Differences
| Feature | Will | Trust |
|---|---|---|
| Takes effect | After death only | Can be immediate or after death |
| Probate | Required | Living trusts avoid probate |
| Privacy | Becomes public record | Remains private |
| Incapacity planning | No provision | Living trust covers incapacity |
| Cost | $300 - $2,500 | $2,500 - $10,000+ |
| Complexity | Simple for basic needs | More complex setup |
| Control after death | Limited | Extensive conditions possible |
Choosing a Trustee
Your trustee manages trust assets and makes distribution decisions. This is a critical choice:
Individual Trustees
Family members or trusted friends. Benefits: No fees, personal relationship. Risks: May lack expertise, family dynamics, availability.
Professional Trustees
Banks, trust companies, or law firms. Benefits: Expertise, impartiality, continuity. Costs: Annual fees typically 0.5-1.5% of assets.
Co-Trustees
Combination of individual and professional. Benefits: Balance of personal knowledge and professional expertise. Requires agreement on decisions.
The Process
Initial Consultation
Meet with an estate planning specialist to discuss your goals, assets, family situation, and concerns. They'll recommend appropriate trust structures.
Trust Design
Define the trust terms: who are the beneficiaries, what assets are included, when and how distributions occur, who serves as trustee.
Document Drafting
Lawyers prepare the trust deed, which is a detailed legal document specifying all terms and conditions. Review carefully.
Funding the Trust
For living trusts, assets must be transferred into the trust - property titles, bank accounts, investments. This is crucial; an unfunded trust is useless.
Ongoing Management
The trustee manages assets, makes investment decisions, and handles distributions according to trust terms. Regular reviews ensure the trust still meets your needs.
Speak to Trust & Estate Specialists
Get matched with experienced estate planning professionals who can design trust structures tailored to your family's needs.
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