Trusts have long been favored tools among high net worth individuals for preserving and passing down family wealth. When assets are transferred into a trust, the legal ownership of these assets belongs to the trust.
Consequently, these assets are shielded from any creditors or litigation against the settlor.
This form of asset preservation stands as a primary benefit of trusts for high-risk individuals or business owners, safeguarding personal assets from the impact of commercial risks. In the event of the settlor’s bankruptcy, trust assets remain protected and unaffected by creditors.
Whether you seek to design long-term plans for family wealth or aim for personal financial security, trusts offer a robust and secure framework to protect and manage your assets.