Place: 50 Beach Road #12-01/08, Gateway West, Singapore 189720
A Trust can give you control of who gets what and when and how they get it and why. A Living trust is important for a family with special needs individual.
SNTC Trust is a good Living Trust for parents with special needs dependents.
We’ll share with you how to enhance the SNTC Trust as the funding for non-Cash assets via a Will and via Insurance Nomination are not secured against incapacitation, lawsuits, divorce & creditors. Also, the fund transfer via a Will is risky as a Will can be lost, contested, and rejected due to errors.
Insurance is one of the biggest funding assets to fund SNTC Trust.
Because SNTC Trust only allows insurance nomination, some people are not aware that:
* Third-party insurance cannot be nominated to SNTC Trust and
* Trust (Irrevocable Nomination S73 & S49L) cannot be nominated to SNTC.
Topics:
* A parent’s experience with special needs
* Challenges in funding a Special Need Trust
* Immediate creation of an estate for funding
* Ringfencing your assets with a Living Trust
* Overview of funding considerations and methods
* Drawbacks on funding via a Will and nomination
* Pros and Cons of living vs death transfer
* Criteria in choosing the right Living Trust
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