Many people are concerned about asset protection and it's quite natural to want to ensure that your assets are protected from creditors; bankruptcy and divorce and that the assets you do hold are passed onto your spouse, children or nominated beneficiaries without delay.
There are several ways in which you can protect your assets. Testamentary and protective trusts are structured to manage your assets and allow you to distribute income and assets to a number of nominated beneficiaries. Wills and trusts fall under the same category, and by adding a testamentary or protected trust to your Will, you can benefit through tax advantages, defence against financial difficulties or as a protective measure for incapable or vulnerable beneficiaries.
Our Toowoomba-based team at Kennedy Spanner are highly experienced in asset protection and testamentary trusts. Our team is dedicated to assisting you in tailoring a trust that is most suitable to your lifestyle and financial situation, as well as working towards a decision on whether a testamentary or protective trust is best for you.
Testamentary trusts allow the Will maker to offer beneficiaries the choice on how they wish to receive their share of the trust.
Protected trusts require the Will maker to appoint a trustee who is not a beneficiary. The trustee is then responsible for managing the share of assets amongst beneficiaries.
Assets, which can be included in a testamentary or protective trust include:
Let Kennedy Spanner assist you in ensuring your hard earned business and family assets are protected as much as possible. Fill out the contact form to make an appointment to discuss the asset protection trust options most suitable for your situation.