How Trusts Can Protect Your Wealth In Tough Times

  • James Turner, Director at Turner Little

  • 09.04.2020 01:30 pm
  • Wealth Management
  • 821

The future belongs to those who plan for it, and when it comes to wealth management, succession planning or safeguarding your assets against unforeseen circumstances, it’s never too early to start planning. 

“Whether you want to set up a trust for charitable purposes, as a profit-sharing scheme for employees, or to protect your loved ones, we can help. Your reasons for setting up a trust will be highly personal and individual, which is why we take the time to discuss your priorities and concerns with you. We then work to design and implement a suitable structure that addresses your concerns,” says James Turner, Director at Company Formation Specialists, Turner Little.

“In times of uncertainty, trusts are typically set up for asset preservation, as trusts may help protect family wealth from events outside your control. It can provide for dependents by controlling the flow of income to beneficiaries, which is particularly useful with respect to minor children, children who don’t know how to manage money and where parents may be concerned about future divorce,” adds James.

“Whilst the beneficiaries’ needs are likely to change over time, the settlor can discuss and confirm these needs periodically with the trustee. In certain jurisdictions, the settlor will be able to retail a certain level of control, including the right to appoint and remove trustees, and manage the trust’s assets. Whilst this may not be appropriate, depending on your objective, the possibility means your trusts can be designed flexibly to ensure it can meet future needs,” he says.

Turner Little specialises in creating bespoke solutions for both individuals and businesses of all sizes. The knowledge and expertise of our specialists, ensures we are able to assist with any enquiries, no matter how complex. To find out more about how we can help you plan, get in touch with us today.

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