Why make a trust?

[italkcash]

By making a trust you can leave money for the benefit of a family member or friend with a learning disability. The trust means that they do not have to worry about the responsibility of looking after the money in their lifetime.

Put simply, a trust is a binding arrangement under which a person gives money or property 'upon trust' to another person or persons (who are known as 'trustees'). The trustees use the trust fund for the benefit of an individual or group of individuals (who are known as 'beneficiaries'). The trustees are then duty-bound to look after the trust fund for the beneficiaries. These arrangements are usually set out in either a trust deed that you make before you die or your will.

A trust is a useful way to provide for a person with a learning disability who may not be able to handle money left to them outright, or who may be vulnerable to pressure from other people. The trust introduces a degree of protection because the trustees are in control over the trust fund.
If an adult with a learning disability is entitled to means-tested state funding, but is also a beneficiary of a discretionary trust, the money that they will potentially get from the trust fund is not included as "relevant capital" when they are being assessed for means-tested state funding. However, this is not true for all trusts.

So it is very important that you discuss the type of trust and how it affects any entitlement to state funding with a solicitor before you decide which trust to choose.

[ajacx]

Originally Posted by italkcash

By making a trust you can leave money for the benefit of a family member or friend with a learning disability. The trust means that they do not have to worry about the responsibility of looking after the money in their lifetime.

Put simply, a trust is a binding arrangement under which a person gives money or property 'upon trust' to another person or persons (who are known as 'trustees'). The trustees use the trust fund for the benefit of an individual or group of individuals (who are known as 'beneficiaries'). The trustees are then duty-bound to look after the trust fund for the beneficiaries. These arrangements are usually set out in either a trust deed that you make before you die or your will.

A trust is a useful way to provide for a person with a learning disability who may not be able to handle money left to them outright, or who may be vulnerable to pressure from other people. The trust introduces a degree of protection because the trustees are in control over the trust fund.
If an adult with a learning disability is entitled to means-tested state funding, but is also a beneficiary of a discretionary trust, the money that they will potentially get from the trust fund is not included as "relevant capital" when they are being assessed for means-tested state funding. However, this is not true for all trusts.

So it is very important that you discuss the type of trust and how it affects any entitlement to state funding with a solicitor before you decide which trust to choose.

yup..but how can make a trust if there are many scam out there ?? my family has been making 4000 dollar trust and got no returns...they have just been scam..

[XxLeSbiAnBiteSxX]

I recently deceided that i want to make a trust for some family memebers of mine.I understand some of the basics,but not all of it completly.So,to get a full better understanding the best choice is to go a professional to expalin all the details to me.I was going to go to one anyways,well i have to.See,i plan to do this within the next year or so.I just want to be 100% sure i know what iam doing.In the post before mine they said them and their family got scammed.That stuff sucks,especially when they are taking money from your family.I dont want that to happen ever.

[Offshore]

If you are in the US. You might want to check your run of the mill Living Trust. That might do the trick for you safely.

[FreedomOffshore]

When deciding how to set up a trust for your assets, the question you should ask yourself is this: Should I work with an offshore trust company or should I work with one that is located domestically? It all depends on your view of the legal system in your particular country and if you view your government as kind and benevolent, or if you perceive the legal system and your government getting more and more out of control. If your answer is the last option then a foreign grantor trust is for you.




A foreign grantor trust IS NOT a trust set up by an offshore agent which gives you non-reporting advantages. This is an erroneous definition and you will find hucksters who will try and rope you into their services by defining it that way. A foreign grantor trust is a trust set up by a foreign trustee whom you (the grantor) approached and paid in order to set up a trust that you could transfer your assets to. You are the grantor and your trust and trustee is foreign. This defines what it is and is not.




Here are the reasons why you should have a foreign grantor trust: 1) It is legal offshore asset protection that is especially powerful for your currencies, precious metals, stocks, bonds, and offshore investments. 2) You can purchase offshore investments with it that you could not purchase in your own name if you are a resident of the U.S.A. or British Columbia, Canada etc. 3) Certain offshore investments can compound tax free within an offshore trust that could not compound tax free if you could hold them in your own name. 4) 50,000 lawsuits are filed every day in America alone, therefore, our offshore trust provides significant protection against claims in civil litigation.





By having a reputable offshore trust company act as the trustee, you are removing it out of harms way since the attacks will most certainly come from your own country. If anyone wants to attack the assets held by the trust, then they will first of all need a very very good reason, and then they will need to hire a lawyer to fly thousands of miles to a court on a tropical pacific island and work with an attorney there to get your assets. This would cost thousands of dollars in attorney fees etc. and would be very difficult to accomplish with the law firm of the offshore trust company fighting on your behalf.



Freedom Offshore Dot Com

[investfunds]

I think you should always gather the whole information before the action and good piece of advice from the expert will never be bad

[Barron]

Good information here, if the assets are tangible like real estate for example they're under the jurisdiction of the court of location and it doesn't mater if the Trust is offshore or not, local laws apply. There are fine well established Co.'s in North America that are well known and affordable that can offer good services for a domestic custom Trust.

If the assets are more liquid then an properly set up offshore Trust is a great advantage for all the reasons described above,

Best Regards

[anora]

Hello..

Nice to see you all here...
All of you have a good discussion in this topic...

[Barron]

Originally Posted by anora

Hello..

Nice to see you all here...
All of you have a good discussion in this topic...

Welcome to you to,

Best Regards

[bensmith0363]

Nothing....