DISCOVER the Road to Financial FREEDOM!

Most of us spend a considerable amount of resource, energy and time in our lives accumulating wealth.

It’s equally very important to take a time to plan in order to safeguard the assets should you no longer be able to handle your affairs.

Do you know the possible negative financial consequences of passing their huge estates on to their children?

As an example, a shoplot in Jalan Bukit Bintang, Kuala Lumpur, can easily cost over RM2-5 Million. This maybe too much for the children to handle.

A Trust can be setup and this will prevent large amounts of money being available to someone too young to manage it wisely. You also can specify your children who will receive money only after completing university or get married. All this conditions can be put in the Trust in accordance to your wish.

After checking around, I found that not many people understand what a Trust is. Many still have the confusion that this tool is only for the people who are very rich and famous like Michael Jackson etc. This is incorrect anymore.

In fact, even if your assets are only worth RM200,000, some aspects of estate planning are important for you and your family. It can help anyone protect to his or her family from unnecessary, expensive and time-consuming legal/family issue if done correctly.

Basically, a Trust is an estate planning instrument which is part of the Financial Planning process used by an Individual to ensure that his or her assets are protected and looked after by a Trustee or Trustees for the benefit of the trust beneficiaries. It has a detailed written set of rules that will determine how, what, when, and where a gift or property is to be distributed to the Beneficiary

When setting up a trust, there are 3 parties involve as listed below:

1. The Settlor – Person who sets up the Trust and sign the Trust Deed

2. The Trustee – The corporation or person who manages the Trust assets according to the Trust Deed

3. The Beneficiary(ies) – the person(s) who receives benefits from the Trust

The Settlor will transfer the ownership the asset(s) such as cash, insurance policies, unit trust, properties, shares to the Trustee. The Trustee would then act based on The Settlor’s instructions set out in the Trust Deed and how to distribute to the Beneficiary(ies). All the proceeds from the Trust will be used solely for the benefit the Beneficiary(ies).

Having a trust allows the following benefits:

a) Immediate distribution because it is effective immediately – this means the beneficiaries will be able to enjoy the income and capital of the trust immediately without the need to wait for any court order;

b) Prevent assets from being squandered by the beneficiaries with the right terms and conditions in the trust;

c) The settlor can even be the beneficiary during his lifetime to enable him to enjoy the trust assets for his retirement and maintenance;

d) Where there is a need for assets protection against creditors, with the right terms and conditions it can be done.

The process of setting a Trust can be a daunting task. The good news is that you don’t have to do it alone, because everyone able to setup a Trust as it’s not expensive to set up. Today, it is now easily made available by Rockwills Trustee , a licensed Trust Company. You don’t have to be rich and famous in order to enjoy the above benefits.

An experienced Rockwills estate planner that specializes in estate planning can help guide you through the steps required to establish trust. They can also help you explore other estate planning options better suited to your situation. For a FREE Consultation, call 03-77811993 or visit http://www.rockwills.com