Trust & Foundation Writing Services By MKG
What is Trust ?
What is Foundation?
The question is do you need trust or foundation ?
Is it better to have a will or Trust ?
Trust
A trust is a fiduciary arrangement that allows a third party, or trustee, to hold assets on behalf of a beneficiary or beneficiaries.
There are many reasons to set up a trust, including avoiding probate, providing for your family after your death, and stating exactly how, and when, your descendants receive their inheritance.
Again is it Better to have a will or Trust ?
Both are useful estate planning devices that serve different purposes, and both can work together to create a complete estate plan. One main difference between a will and a trust is that a will goes into effect only after you die, while a trust takes effect as soon as you create it.
Foundation
A foundation is an incorporated legal entity which can be used to hold assets and will have a number of uses in wealth structuring and succession planning. As a concept it is neither a company nor a trust, although it has features of both. Foundations can hold all types of assets from a single asset to a range of different assets and there are no restrictions on what can be owned by a foundation
In reality, most people can avoid probate because the assets in the trust will go automatically to the beneficiaries named in the trust.
However, a Trust or a foundation is ideal for you or not, it is depend on the circumstance and facts you had presented. Nonetheless, there is no right or wrong in this matters, the prospect is depend on the information you presents to MKG, our partner will give you an advisory and analysis.