You are a grandfather, and you have some assets, which you want to give to your grandchildren but not until when they get to the age of the adult, which is 18 years. What is the right way to stop the assets to reach them until they get to the adult age?
The best way is a bare trust set up. By this way, you will be able to move your assets around, but it will not be stolen.
Let me simplify that what you need to do to fulfill the Desire of yours in this regard.
First of all, you need to install or have a trust in which you can put all your assets.
After putting the assets, you need a trustee, which will ensure that all the assets are going to be moved to the rightful beneficiaries at the right time. If you want to follow some laws which will define that what will happen to those assets and who are the right to beneficiaries then you need to write some of the laws yourself and then had that beforehand in a trust.
I can assure you that after writing, those laws and implementing them there will be no breakage of them and the assets will be there all the time until they reach the right time.
Some of the people have asked me that if we want Setting up a family trust then how much cost it will have and is it beneficial or not. As I have said about that if you are willing for a bare trust set up, then there will be only benefits the beneficiaries will get in the future. As a Trustee, you just need to make sure that all the laws are written lightly and will be understood by every person.
On top of that, the family trust is made for helping out the family as the name suggests then, of course, the family will be very beneficial at that time.
Let me tell you again that you need to have the laws written on a trust deed, which will have everything from top to bottom about what needs to be done about the Assets and after writing that the trustee will ensure that these laws should be implemented rightfully and had the right time
This was a simple procedure for a bare trust set up, and I hope it will help you out in the future.
