The trust is a very powerful legal resource to protect your assets. But it is also an unknown figure for many people. That is why in this article we are going to explain some of the most frequently asked questions:
- With a trust, do you lose control of your assets?
No, with the trust, what we transfer is the management of the estate and assets, not their control. The beneficiary continues to maintain full control of the assets under the trust.
- Are the assets of a trust protected against creditors or the state?
Yes, it should be noted that all property and assets, which are contributed to the trust agreement, are exempt from the action of any creditor.
But for greater security, barriers can be established at the time of the agreement to protect the assets, and within such barriers, an action protocol can be established in the trust itself, which the trustee must follow in case of a given event.
- Does the trust have too many obligations?
The administration of trusts entails the obligation to properly manage the assets, not only to maintain them, but also to make every effort to increase them, even if it is sometimes necessary to resort to third parties for this purpose.
- Is the trust something extremely complex?
For an inexperienced person, this type of agreements can be a bit complex, and have difficulties to understand it properly. For this reason, at ORION GLOBAL CONSULTANTS INC, we put at your disposal, fiduciary experts to advise you and explain as clearly as possible each element and solve any doubts that may arise.
If you have any questions about the main benefits of trusts, please do not hesitate to contact us.