Showing posts from August, 2015

The living trust

A Living Trust is a Trust created during a person’s lifetime, whilst also taking effect during their lifetime.
It can be revocable meaning that the Settlor can change his/her mind and decide to take asset(s) out of the Trust at anytime he/she choose to, without any difficulty, or impediment. 
It can be irrevocable i.e. once the Trust is created and assets are transferred into it, those assets cannot be taken out of the Trust except as described in the Trust Deed.  A Trustee under a Living Trust holds these assets and follows the Settlor’s instructions regarding the use of these assets during their lifetime and upon their demise.
The Settlor should consider the following factors before setting up a Living Trust: a)Age
b)The size of his/her estate c)The location(s) of his/her real estate holdings BENEFITS OF A LIVING TRUST. The Living Trust ensures that the Settlor’s assets are distributed to the chosen heirs under the defined terms and conditions, thereby preventing any disputes amongs…

All about trust services


It is a legal concept which enables a Trustee to be the legal owner of assets AND hold it ‘in trust’ for beneficiaries who receive the benefits from the Trust assets and may eventually receive title to the Trust assets. assets.
The Trustee is an independent and impartial 3rd Party who plays a key role in estate planning and is often charged with protecting the beneficiaries’ interests.                                              PARTIES TO A TRUST

What is estate planning?

Estate planning is the process of anticipating and arranging for the disposal of assets.
The primary purpose of an estate plan is to take care of loved ones after the client’s demise. Having an estate plan provides a great deal of comfort, as it eliminates a significant amount of family dispute and ensures that the wishes of the Settlor are respected both while alive and after demise. It attempts to eliminate uncertainties over the administration of an estate and maximize the value of an estate. The Tools for Estate Planning provided by ALM TRUSTEES are: