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Wealth is a rather relative term

Most of us don't think we're particularly wealthy, especially when we look at the elite one percent. But to the person resigned to renting an apartment, a family that owns a home probably looks pretty wealthy. And if you own property and other valuable assets, you should take strides to protect your wealth for future generations, even if you feel your holdings aren't significant. The truth is that any time you own something, you've got something to lose. And there are plenty of people with their hands out ready to take it away from you and the loved ones you'd like to leave it to. But family trusts can help you protect your wealth and ensure that it gets into the right hands one day. Here are the most important reasons to consider creating a family trust.

1. Protect assets during your life - and after

While a last will and testament is designed to pass along your wealth after your death, you might want to take steps to protect your main asset (i.e. your home) and other valuables during your lifetime. Unlike a will, a family trust doesn't simply pass ownership from one person to another. When you create a trust, the trust becomes the owner of any assets you place in it. You won't own them and nobody else will, either. The trust will hold them until the time they're passed along to a named beneficiary. This means that your wealth can be protected from business (or other) creditors or family squabbles over who should get what when you die.

2. Pass on wealth in an easy and expedient fashion

If you're worried about your wealth getting tied up in probate, lawsuits, and so on after you pass, a trust will provide you with peace of mind. When you create a trust for the purposes of asset protection, you are ensuring that named beneficiaries will have immediate access in the event of your passing.

3. Control how wealth is distributed

When you set up a family home trust or other types of family trusts, one of the main benefits is that you can stipulate how wealth should be distributed. For example, you can direct the trust to pay cash benefits to grandchildren specifically for the purposes of college tuition and related expenses, or you can have it doled out in intervals when recipients reach certain ages. And you can ensure that your home is left in the right hands, rather than being subject to infighting amongst family members. Knowing that your wishes will be carried out after your death is just one of many good reasons to create a family trust.

So why not learn more and register with TrustUs today. 

Its in your hands.