By going to the effort now, and setting up your business trust or your family trust is one of the most important things you can do. A trust agreement is a document that stipulates the rules that one wants to be followed regarding property held in the trust for its beneficiaries. Common purposes for trusts include reducing the estate’s tax liability and protecting property in an estate. Your trust forms as a part of your estate and it will be connected to your last living will and testament. It is highly important to ensure that all of these documents are completed and legal; as it will be saving your beneficiaries from a lot of unpleasant complications in the future.
Dreyer Engelbrecht Attorneys specialises in a variety of services when it comes to setting up a business trust and a family trust. Each trust is different and it is handled as such with the appropriate level of compassion and professionalism.
The Importance of trusts
By setting up a trust for your business and your family, you are allowing your beneficiaries to be free from the strain of many complications that they do not need. The reality is that your trust set up will allow them to remain with peace as there will be minimal complications. Your trust will allow you to rest at ease knowing that your last wishes will be respected and implemented; and that your dreams for your family and business will continue. Your beneficiaries will be able to avoid hefty inheritance tax. You can also rest with the thought that no one can fight with each other over assets; this will allow you to assist in the gracious continuation of everyone’s relationships.