- Protection of minors against creditors and divorced spouses.
- Protection of spouses against creditors.
- Ensuring your family’s security after your death.
In choosing to create trusts, many people overlook the value in creating a lifetime trust. Most would think it exorbitant or unnecessary to pay out a trust for such an extended period of time, but the reality is that it is one of the most secure ways of ensuring your family’s financial security in the worst possible situation.
Lifetime Trusts for minors
When creating a trust for your children, consider how you will protect these assets should you become insolvent, or should your family become insolvent following your death or divorce. Creating lifetime trusts for your children create a legal barrier between these assets and creditors or divorced spouses. This means that no matter what happens to you or your family, these assets will remain safeguarded for your children, for their entire lives.
Lifetime Trusts for spouses
Similarly, you can create a lifetime trust for your spouse, protecting them from creditors should you die or become insolvent. This could be used to help your family pay for their living expenses and education.
Lifetime Trusts to ensure your family’s security
Since a lifetime trust acts as a legal barrier between creditors and your assets, you can ensure your family’s future by giving them access to funds, property, or any assets of your choosing, which cannot legally be touched by any creditors.
Security aside, the additional benefits of lifetime trusts include the ability to give your future generations a greater chance at succeeding in life, by providing financial support to them well past the end of your days.
If lifetime trusts are of interest to you, Crest Trust can help you find the perfect solution to meet your needs. Get in touch with us today and secure your family’s well-being tomorrow.