Trust and Fiduciary Services have a variety of different applications. Creating plans and implementing them to safeguard your assets, secure finances for your loved ones and avoid unnecessary expenses all form part of Trust and Fiduciary Services.
What are trust and fiduciary services?
Trust and Fiduciary services are those related to personal assets with a particular emphasis on the effect death has on them. Fiduciary services include the drafting of Wills, Estate Planning and creating Trusts, as well as the planning of relevant fees, drafting of contracts, codicils and other legally binding agreements in terms of the above.
Trust and Fiduciary services are designed to make the bereavement process as stress-free as possible for the bereaved by taking care of all financial and legal obligations on behalf of the Estate or Trust owner. This is often most effectively achieved with forward-looking processes designed to provide contingency for any and all circumstances related to the deceased’s Estate.
Trusts are legal relationships between people where the trusts itself is a separate property to the Estate of the Trust owner/s. Trusts have a variety of purposes, the most common of which include:
- Safe-guarding assets for minor beneficiaries
- honouring maintenance commitments in terms of a divorce orders and settlement agreements
- Providing for disabled dependants and aged parents
- Protecting and providing assets for following generations
- Serving as a holding vehicle for assets as part of an estate planning structure
- Providing a regular income for favourite charities and other PBO’s
- Providing for the dependants of a deceased employee
Effective Estate Planning coupled with a relevant Last Will and Testament ensures that your loved ones are covered in the event of your death. Always ensure that your Will remains updated and relevant to avoid any unnecessary burdens on your beneficiaries during their bereavement.
For all your Trust and Fiduciary services enquiries, contact Crest Trust today.