Day: October 2, 2013

Trust funds, or deeds of trusts as they are also known are a great way to help protect your loved ones, ensuring they can be provided for in the future. Trust funds can: Protect your assets – so they cannot be used to pay for care home fees Guarantee an income for your loved ones… Continue reading Benefit of setting up a trust

An estate trustee derives his authority to act from the will which takes effect upon the death of the testator.  An estate trustee who is not willing to assume the duties office, however, may formally renounce the right to act. The estate trustee has certain statutory rights and obligations which includes: Arranges for the proper… Continue reading Duties of a trustee to an estate

Trusts can help to minimize inheritance tax because it reduces the value of your overall estate by placing assets in a trust and naming your loved one as the beneficiary. When you set up a trust your assets are removed from your estate and put aside for the beneficiary. This enables you to protect your… Continue reading Setting up trust fund for beneficiaries of an estate

In choosing an estate trustee, a testator should consider the following factors: The age and health of the prospective estate trustee Competence of the Trustee Experience. Availability and willingness to serve. Proximity to the beneficiary -where the prospective estate trustee lives Ability to serve without conflict of interest.  The honesty, capability and responsibility of the… Continue reading Factors to consider in choosing a good estate trustee.