Trusts
Trusts are used as an effective estate planning tool to protect assets, on behalf of minors and other beneficiaries. FNB Fiduciary offer trusteeship services for Living and Testamentary Trusts and in collaboration with FNB International Trustees, offer trusteeships and trust planning in offshore trusts.
Why you need a Trust
A Trust allows for
- The smooth transfer of wealth from one generation to the next (or even multiple generations)
- A flexible estate planning tool allowing for the limitation of assets held in one's personal capacity
- The separation of the ownership and use of assets
- A useful tool to manage and protect the interests of minors and beneficiaries who are incapable of dealing with their own financial matters
Factors to consider
- There are different types of Trusts. You need to ensure that your Trust structure suits your unique personal needs
- Creating a Trust to look after the interest of your minor children could be as easy as drafting your will and including a provision for a Testamentary Trust
