Setting up a family trust avoids complications, delays, costs and tax that may arise from bequeathing assets through a will.
- Your property held under a living trust does not go through probate. The trustee simply transfers ownership to the beneficiaries you named in the trust;
- There are no court fees to pay and your named beneficiaries do not have to wait for months as with probate proceedings before they obtain their bequeathed properties;
- Your affairs are kept private as the terms of the trust are not made public, unlike a will which is a public document.