We all have a tendency to put off thinking about our own demise. It usually takes some kind of prompt to get us to take the time – and pay the money – to have a will drafted. That prompt may come in the form of the birth of child or development of health issues. Those are common reasons people start thinking about their last will and testament, but are they the only reasons?
Our firm works with Europeans and South Americans, whose legal codes essentially disallow (or disregard) the concept of a trust. It is sometimes hard to explain to such clients the advantages of a trust because it just sounds too good to be true.
Once you have read Part II of this series, regarding the many advantages of having a trust, you are ready to learn how to actually transfer assets to your trust.