Trust planning & Wills
There are many benefits to setting up a trust and writing a Will, including avoiding probate, protecting your assets, and ensuring that your wishes are carried out. Probate is the legal process of distributing a person’s assets after they die. It can be a lengthy and expensive process, so avoiding probate can save both time and money.
Trusts
A trust can be an effective way to manage your assets during your lifetime and after your death. A trust is a legal arrangement in which one person (the trustee) holds property or assets for the benefit of another person (the beneficiary). You can use a trust to manage your property and assets during your lifetime, ensure that your property and assets are distributed according to your wishes after your death and reduce the burden on your loved ones after your death by avoiding probate.
Wills
Writing a Will allows you to specify how you want your assets to be distributed after you die. This can help avoid family conflict and ensure that your wishes are carried out after you pass away and protect your loved ones from any potential disputes. A Will can also help to minimise the amount of taxes and other expenses that may be incurred by your estate and is an important step in planning for your future to give you peace of mind knowing that your affairs will be handled according to your wishes.
Need advice to protect the assets you have worked hard to build up?
If you have any questions about writing a Will or would like assistance with your estate planning, we’ll take you through the process and ensure that your interests are best protected. We’re here for you. To speak to an Elixir Wealth adviser, please contact us.