Trust and Succession Lawyers
Our experienced trust lawyers can help you review your options and guide you on possible solutions.
Securing your assets for future generations
Have you taken the necessary steps to safeguard your assets for the benefit of future generations? A Testamentary Trust, with its multitude of advantages, may prove to be the ideal choice for your specific circumstances. This trust structure can be particularly suitable in the following scenarios:
- Asset Control: If you prefer to retain ownership and control of your hard-earned assets during your lifetime, a Testamentary Trust allows you to do just that.
- Simplicity and Cost-Effectiveness: For those seeking a straightforward and cost-effective trust arrangement, a Testamentary Trust provides an attractive option.
- Family Trustee: You may want to appoint a trusted family member, such as your spouse, as the trustee, rather than engaging an external party like a trust corporation.
- Beneficiary Constraints: When beneficiaries are either too young or not financially responsible, a Testamentary Trust empowers you to impose constraints on their inheritance.
- Minor Beneficiaries: If your beneficiaries are still minors, this trust allows you to allocate a portion of your estate to support their education and provide them with a source of income.
- Debts and Legal Protections: Assets placed within a trust can offer protection against creditors and play a role in divorce proceedings when beneficiaries have debts.
Understanding Testamentary Trusts
A Testamentary Trust, also known as a Will Trust, is a legal framework where the settlor (you) grants authority to a trusted individual (the trustee) to hold title to property or assets for the benefit of others (the beneficiaries).
Unlike a living trust, a Testamentary Trust is established through a Will and takes effect only after the settlor's passing. Upon the settlor's demise, assets flow into the testamentary trust via the Will and are subject to the Grant of Probate process.
It's important to note that the Testamentary Trust does not come into operation if the settlor loses mental capacity; it only takes effect upon the settlor's passing.
How we can we assist you?
Our commitment to transparency means our fees are fixed, clear, and easily understood. If you're interested in exploring the potential benefits of a Will Trust for your situation, we invite you to reach out for a complimentary initial consultation. Your future financial security and the legacy you leave behind are important, and we are here to guide you every step of the way.
Work with an award winning team
For the 8th consecutive year we were recognised by Doyles as a leading family law firm in Singapore.
For the 5th year in a row we have been named as a leading Family law firm in Benchmark Litigation 2024 awards.
For the 4th consecutive year we have been listed as one of the Best Law Firms by The Straits Times.
We've consistently received positive reviews from our clients on our service and results.