Inter-vivos trusts
An inter-vivos trust (or family trust) is established by someone during their lifetime to manage certain assets or investments and support beneficiaries, such as family members.
If you are holding assets in a family trust, you cannot leave them to a specific beneficiary in your Will.
It is important that you understand what will happen to the trust assets if you die and take appropriate measures to ensure the control of those assets is passed in a way that makes sure they are distributed to your intended beneficiary (or beneficiaries).
Like testamentary discretionary trusts, inter-vivos trusts may provide benefits including asset protection and tax minimisation.
For more information about estate planning issues involving a family trust, please speak to your adviser or contact Equity Trustees.
For information on establishing or managing a family trust on behalf of a client, please contact Equity Trustees.