Trusts for Private Individuals

Asset Protection and Generational Transfer

Trusts for Private Individuals

Trusts offer several advantages for individuals, ranging from asset protection to succession management and tax optimization.

Key benefits include:
Asset Separation: Trusts separate personal assets from those transferred to the trustee, safeguarding them from potential legal actions, creditors, or family disputes. This is particularly useful for protecting family wealth and ensuring it is managed and distributed according to the settlor’s wishes.

Succession Planning: Trusts allow precise control over how and when assets are distributed to beneficiaries, ensuring that wealth is preserved over time. For example, trusts can manage succession for minors or individuals with special needs, distributing assets based on specific criteria set by the settlor.

Flexible Asset Management: The settlor can establish tailored rules for managing and distributing assets, maintaining indirect control over their use.

Confidentiality: Unlike wills, which become public upon probate, trusts provide greater privacy as their details remain confidential.

Tax Efficiency: Trusts can reduce tax liabilities, such as inheritance taxes or other personal taxes, and are particularly beneficial for managing international succession by addressing cross-jurisdictional asset transfers.

Trusts are versatile tools that can serve numerous purposes.

  • Minors’ ProtectionEnsuring assets are preserved until beneficiaries reach adulthood.
  • Support for Individuals with Special NeedsProviding consistent financial assistance while preserving access to public benefits.
  • Spousal and Descendant ProtectionSafeguarding assets in the event of remarriage or changes in family circumstances.
  • Philanthropic Goals:Allocating part of the estate to charitable or philanthropic causes while benefiting from tax incentives.
  • Intangible Asset ManagementManaging intellectual property, such as copyrights or patents, to ensure beneficiaries enjoy their benefits as intended.