Preserve wealth and assets with proactive planning
E state planning services ensure proactive and strategic planning to arrange for the disposal of an individual´s estate after they pass. Preparing for such an event in advance by using a Trust allows for wealth preservation and asset protection.
This foresight prevents the emotional strain from impacting on those who are left with the burden of managing the estate. Assets held in a trust are legally owned by the trustees on behalf of the beneficiaries and you become the settlor, who controls the trust. Having a trust will avoid the possible delays associated with the legal process that decides who will administer your estate in the event of your death. The trustees can instead distribute your wealth quickly and easily.
Another key benefit of setting up a trust is asset protection. For example, if you are a business owner, a trust could help protect your personal assets should something go wrong with that business in the future. Creditors might otherwise have the ability to pursue all of the business owner’s wealth. Unlike wills, trusts are confidential and this privacy can offer superior discretion and flexibility, which is particularly useful in complex family situations. For example, a trust can also be used in certain circumstances to protect your personal assets or those of your heirs from a spouse/partner in the event of separation or divorce.
International trusts could be especially helpful in avoiding potential tax liabilities as when assets are transferred to a trust, you (the settlor) are no longer the legal owner of those assets. This can be very useful to reduce capital gains and inheritance tax liabilities. KNG will assess your wealth protection needs and find the right type of trust according to your situation and jurisdiction to combine the maximum protection over your wealth.