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Family Trusts: Protecting wealth across generations

Posted: 25.10.2014

 

The funny thing about wealth is that it's subjective

 

Of course, we can look at the uber-wealthy elite like Bill Gates, Warren Buffet, and Amancio Ortega, the top one-percenters, and wonder what it's like to be a multi-billionaire. But the truth is that if you own a home, you have money in the bank, and there are other assets to your name, you fit into a class of wealth that most people on the planet don't enjoy and probably never will. And whether your wealth grows or shrinks depends largely on what you do in the arena of asset protection.

 

Get ahead of the game

 

The very wealthy are often ahead of the game because their money and assets have been protected and passed down from one generation to the next through family trusts, growing with every inheritance because children are raised understanding how to protect their wealth and make their money work for them. Even if you don't consider yourself particularly wealthy, taking pains to protect your family home by placing it in a family home trust could be the first step towards preserving the wealth you have accumulated. This will allow you to pass it along to your young family in the event of your death or other mishaps that could put your property at risk.

 

Preserve your wealth to benefit future generations

 

Preserving and growing your wealth to benefit future generations is a calculated pursuit that has to start somewhere, and it might as well begin with you. When you elect to protect your main asset, you're not only ensuring that your family will remain in their home in your potential absence, but you're also setting an example that your children can follow when they come into their inheritance.

 

Involve your kids and teach them

 

By teaching your kids how to preserve wealth now, you can protect your young family's future in two ways. For one thing, you can safeguard your assets against potential loss. But you can also ensure that your children are prepared to grow and protect the wealth that you have already started to amass. This, in turn, can lead to capital growth over generations of your family line. And it might not be long before one of your descendants ends up in the esteemed company of the world's wealthiest people. At least, that's probably your sincere desire when you plan for a financial future that includes the protection, maintenance, and growth of wealth.

 

The point is that you can be at ground zero for a profitable future for your family, including generations yet to come, when you take the time to set up a family trust and protect the assets that will one day be passed along to your children.

 

To learn more why not register with TrustUs today.

Its in your hands.

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