Asset protection

Preserving family wealth and possibly increasing the wealth is often a motive to set up a trust. Asset protection is an imminent feature of a trust and is secured by transfer of legal ownership over assets to trustee of a trust. 

Trusts if properly created provide for a greater protection of properties and assets held in such trusts against unjust claims of third parties, attacking creditors, disputing family members, spendthrift heirs or aggressive business rivals. Keeping the assets outside of the reach of settlor’s or beneficiaries’ personal or business claimants makes the trust assets resistant against possible future challenges and ensures their safety. Thus, assets remain secured and available for those intended to benefit.