Legal
Updating your Will
Unlike an iPhone upgrade that does not have major changes, your lives do, therefore it's important to update your WILL…
04.09.2020
Using A Trust for your Estate
For many families, the best strategy for financially providing for the children is to use a Trust.
When using a Trust, a trustee fulfills the responsibility that would otherwise belong to the guardian of the estate.
The trust assets can be released to the children or the caregiver incrementally according to age and needs. For example, the trustee could distribute money for the children’s needs until age 18 and then manage for the money until the child is a financially mature adult.
Your trustee may also exercise discretion in investing and distributing the funds for the children’s support, education, etc., coordinating with their physical guardian to ensure the children’s needs are met until they come of age. This can ensure that the assets are there when they’re needed for your family.
There are various trusts and it’s important to check if they work for your family. Contact me today!
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