7th August 2014
Ensure your next generation's future by starting a family trust.
What is a trust
A trust can protect the ownership of your assets while you are alive. You transfer the legal ownership of the assets to the trust while continuing to use and enjoy them. For example, if the family home is in a trust, you no longer personally own the house – but you could still live in it if that’s what the trust deed states.
Benefits of a trust
- Protection of selected assets against claims and creditors
- Setting aside money for special purposes such as for granchildren’s education
- Ensure your wealth is distributed within the family and not to their partners
- Complete security to the beneficiaries or children
- To control the distribution of wealth for Muslim clients – bypassing the Muslim distribution act in Malaysia
Get professional advice from us today.
Trusts Asset Planning does not have to difficult. Get in touch with us and we'll help you in determining if this is the right option for you. No obligations.Get in touch with us!
Is it costly?
Trusts can vary from simple family trusts to complex and technical ones. We will advise you on the costs as well as related expenses. You might be surprised at how little it costs. Getting it done properly with the help of professionals will ensure it is done up properly and enforceable.
For Muslim clients
A Muslim is able to set up a ‘Hibah' arrangement for the benefit of their loved ones. It is a gift during your lifetime by way of love and affection and without expecting any kind of return or consideration. As such, ‘Hibah' is not subject to Islamic Law on inheritance or ‘Faraid'. We are able to advise our Muslim clients on the effects of setting up a Muslim Trust and also how to structure it.