There are two common types of family trusts.
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Creating a family trust is an effective way of managing family assets.
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Quite simply a family trust may refer to any trust created with family members as its beneficiaries.
A trust is a legal entity that you can put your money and assets into so that you can then pass it on to one or multiple beneficiaries typically after your death.
A family trust can be set up in two ways.
A family trust is a legal device set up to benefit family members most commonly your spouse and or your children.
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While a family trust can be a testamentary trust one set up under the terms of your will that comes into being upon your death in most cases a family trust for estate planning purposes is a living.
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A family trust is also called a revocable living trust and is established with a legal contract called a trust document.
A family trust is a legal device used to avoid probate avoid or delay taxes and protect assets.
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Once the trust is established the settlor transfers the ownership of any property she chooses including money into the trust.
Set up through a last will and testament which means it will only come into existence upon the death of the grantor and probating of the will.
A family trust is any type of trust that you use to pass on assets to one or multiple family members.
Revocable and irrevocable living trusts.