Personal wealth protection is constantly in the thoughts of people, whatever their age or profession. Asset management is also a concern, regardless of whether the assets are owned exclusively or collectively by the members of a household, in the latter case the concerns are also for their future division.
Households and couples can be effectively protected through a trust. It can be applied to different family situations: from married to de facto couples, civil partnerships and extended families.
By establishing a trust, for example, the relatives of a disabled person may plan ahead and settle financial matters for a time when they are no more, to ensure the best possible future care for their disabled loved one and peace of mind for themselves.
Quarrels for an inheritance very often split families up, with negative consequences in both personal and financial terms. Trusts are seen as the most suitable arrangement for ensuring that the death of a family member does not lead to these consequences.
It often happens that business owners are worried about passing a family business to the next generation. A trust can segregate the stock or company, if it is advisable not to assign it directly to the next generation, for the time being at least, who may in any case enjoy the profits of the business.
The artistic heritage has, by definition, a long duration and its value often grows over time. The need to preserve it, to free it from the vicissitudes that may affect the owners, to pass it on, whole, through the generations and make it available to the public, even after the death of the owner or the artist, are all necessities with a trust can satisfy.
Trusts can also be an effective tool for the protection of animals, and for the pursuit of related projects. Almost all the US states have issued ad hoc legislation for the establishment of trusts for the benefit of animals, thus allowing animal owners to provide for continued care for their animals even if they pass away.