Trust Planning Dubai
There are numerous definitions of what exactly a trust is, I think that the most simple and accurate one is written by Fidelity – ‘a trust is a fiduciary arrangement that allows a third party, or trustee, to hold assets on behalf of a beneficiary or beneficiaries. Trusts can be arranged in many ways and can specify exactly how and when the assets pass to beneficiaries.’
The reasons for wanting to utilise a trust are generally to protect assets (against things like divorce), to perhaps increase tax efficiency (particularly with regard to UK Inheritance Taxation) and to streamline the process of probate and set out a clear vision of how you want your assets to be distributed upon death.
Along with pension transfers, this is the area of financial planning whereby a high level of advice is going to required as the options are numerous. Generally, taking the opinion of a member of the Society of Trust and Estate Practitioners is advisable.
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