Advantages of a Living Trust

The Advantages of a living trust can be summarized as follows:

  • Estate planning.
  • The freezing of value.
  • Tax planning Preservation of assets after death.
  • Protection of assets from creditors.
  • Protection against spendthrift children.
  • Protection of a vulnerable spouse after your death.
  • Protection of minor and/or vulnerable children.
  • Income tax splitting.
  • Assuring rapid access to income and capital after your death.
  • Multi-ownership of assets.
  • Impartiality.
  • Confidentiality.
  • Flexibility.
  • Cost saving: not subject to any of the fees or costs of winding up an estate.
  • Conduit principle
  • Distribute property after your death.
  • Create one receptacle for all your property.
  • Take care of you.
  • Offer privacy.
  • Are easy to create and maintain.
  • Are easily changed.
  • Provide continuity in your affairs.
  • Can measure trustees during your life.
  • Are difficult to attack.

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