Over the years, you have achieved success and accumulated wealth. Your priority now is to ensure your wealth and assets remain protected for your future generations.
Solution:
A trust fund is a will with a lot more and detailed stipulations. The trustor decides the particulars and this is a significant advantage. If you leave money behind for the beneficiary(s) (eg. your kids) in a savings account, your kids will get to make all the decisions. Trust funds are often set up by the wealthy with the idea that the interest and dividends earned would allow the trust to operate off the investment income making it something that spans generations. That is to say, for the purpose of wealth accumulation and asset protection ensuring that your loved ones will always be well looked after. The responsibility of administering the assets to take care of the various needs can be held by a trusted individual or an institution called a trustee.
For further information, read Guide to Singapore Trust Law
The Rich understand money and how to use it. Capital is literally a seed; learn how to plant it to produce the best harvest.
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