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aurthur
Apprentice
Joined: 27 Aug 2004
Posts: 10
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 Posted: 12/05/07 - 11:11 Post subject: |
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| Is it a good thing setting up trusts? I think it is a good way to protect your assets during life and after you pass away and it can also be a good protection for your family. I tried to figure out which type of trusts is most suitable for me, like ‘living trust’ or ‘testamentary trust’. |
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rainer
Apprentice
Joined: 06 Aug 2005
Posts: 5
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| Posted: 01/04/08 - 01:35 Post subject: |
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| It’s up to you to decide on what trust you want to set up. ‘Living trusts’ assume that your assets are used and controlled by you during your life. ‘Testamentary trust’ takes effect when you die by the trustee which is an authorized person who ensures that trust terms are carried out. Whatever type you choose there are a few things that need to be done: finding a trustee, consult with your bank and attorney or financial adviser. I must notice that trusts are not public documents and if you have children and a spouse it’s time for setting up a trust. |
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