A trust may not be right for everyone, but they may play a key role in proper estate planning!
A lot of people think trusts are only for the super wealthy — not true. Trusts can benefit anyone who wants to manage how they leave their money to their family. A trust can give you control over who gets what, and when, how they get it, and why.
How do trusts work? Trusts are like containers you can put things in to. You, the grantor, can place assets – like your house, life insurance policies, investments, and other possessions – into a trust. These assets become property of the trust, and are managed by your trustee. You appoint the trustee to ensure your wishes are carried out. As grantor, you decide who receives the assets inside your trust. Typically, your spouse, your children, grandchildren, and charities of your choice are the beneficiaries who receive the assets held in trust.
When you create a trust, you determine how the funds inside your trust will be used, and when they will be dispersed.
For example, you may want to use assets in your trust to jump-start your children’s careers when they’re 25. Or supplement their retirement when they turn 60. Or pay college tuition expenses for your grandchildren. Or provide annual scholarships to your alma mater. Your appointed trustee ensures everything is managed according to your instructions.
It’s important to know there are different kinds of trusts for different purposes.
Some are designed to manage who receives your assets, and when. Others may offer tax planning benefits. Make sure you work with financial experts, so that your trusts are properly structured to carry out your specific intentions.
Trusts can offer you and your family many financial advantages. Talk with your advisor and an estate planning attorney. Find out how trusts can help you create a lasting legacy for those you love the most.
After beginning my career as a Financial Planner 15 years ago, I understood the importance of holistic financial planning. Holistic financial planning is a comprehensive goal-driven, top-down approach that takes into account an individual’s complete financial picture, including their values, goals, risks, and experiences with money. A top-down approach employs the 5 pillars of wealth planning. Rather than focusing on planning for individual life stages or using a product-based approach, holistic financial planners take every aspect of client’s financial life and financial risk into account. The key factors of holistic financial planning include:
I strive to advise clients to embrace the collaborative effort essential to holistic financial planning.
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In compliance with the Personal Data Protection Act, Financial Alliance Pte Ltd (“FAPL”) seek your consent to collect and use your personal data (e.g. name, NRIC, contact numbers, mailing addresses, email addresses and photograph) for the purposes of and in accordance with FAPL’s Data Protection Policy, which can be found on FAPL’s website at https://fa.com.sg/data-protection-policy/.
根据《个人数据保护法》,鑫盟理财私人有限公司征求您的同意向您收集并使用您的个人信息。鑫盟理财将根据公司的个人数据保护政策所阐述的用途使用您的个人资料(例如姓名,证件号码,联系电话,邮寄地址,电邮地址和照片)。 该政策可在本公司网站上查寻,网址为 https://fa.com.sg/data-protection-policy/.
By submitting this form, you are deemed to have read and understood FAPL’s Personal Data Policy.
提交此表格,即表示您已阅读并理解鑫盟理财私人有限公司的个人数据政策