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What is a family trust fund?
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6th May 2010 by Gary B
A family trust fund is a fund that is set up to pass on any assets you have to designated family members. A trust removes your ownership of an asset, but you maintain control over the trust. You also eliminate the need to go to probate, which can drain a lot of the value of the assets you have. A trust also can protect against claims made by creditors, offering more protection for those you want to pass things on to. Another important factor is a trust offers optimal privacy, where everything is kept hidden except to those who receive your assets. A family trust can be structured in a variety of ways to meet your specific goals, like not allowing principle in the fund to be accessed, but rather the paying out of dividends, among many other flexible possibilities.
A family trust fund is a fund that is set up to pass on any assets you have to designated family members. A trust removes your ownership of an asset, but you maintain control over the trust. You also eliminate the need to go to probate, which can drain a lot of the value of the assets you have. A trust also can protect against claims made by creditors, offering more protection for those you want to pass things on to. Another important factor is a trust offers optimal privacy, where everything is kept hidden except to those who receive your assets. A family trust can be structured in a variety of ways to meet your specific goals, like not allowing principle in the fund to be accessed, but rather the paying out of dividends, among many other flexible possibilities.
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1st Dec 2009 In Legal
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Subjects: family trust fund,