Do you have a Trust?
Many people do, for lots of different reasons but mainly for probate avoidance, asset protection and to keep assets in the family bloodline. A Trust also provides privacy and confidentiality.
Keeping assets in the family bloodline, a properly structured trust provides a means of passing wealth from one generation to the next, whilst ensuring that beneficiaries can still enjoy the benefits of the trust during their lifetime.
When assets are transferred to a trust, the legal title of those assets is vested in trustees and assets can be protected against future claims against the settlor or the beneficiaries, for example, from creditors or on divorce.
As the assets in a trust are no longer legally owned by the settlor, they will not form part of the settlor’s estate on death thereby avoiding the cost, delay and publicity associated with the probate procedure.
Avoiding Forced Heirship
Legislation can dictate the manner of wealth distribution following death but only to the extent that those assets form part of the deceased’s estate. This can be avoided if assets are transferred to a trust. Where they can then be passed on in accordance with the deceased’s personal wishes.
At The Wills Specialists, we will assess your situation and let you know whether a trust makes sense for you. If so, we will prepare a trust that meets your specific needs.
TWS has a dedicated offshore trust company, TWS Management Ltd, which acts as an expert trust subsidiary for TWS and via which we offer high-level international trust services for individuals and corporations providing efficient and flexible structures for the ownership of family run businesses, wealth preservation, asset protection, succession planning and probate avoidance via discretionary, fixed interest, charitable or purpose trusts.
Our flexible, confidential and personal service is tailored to our clients’ particular requirements and administered from our offices in Dubai, providing our UAE based client’s with the comfort and convenience of direct access to the administration team.
Our fees are realistic and competitive.