Tax And Succession Planning Through Trusts And Wills

Trusts and Wills are both means for legally distributing your wealth to your intended successors or other beneficiaries. Intelligently planned, both can also help you save tax for yourself and your successors.

While Wills are better known, tax and succession planning through private - or, family - trusts is equally a tried and tested method for transferring assets and creating income for your family members, including unborn persons. In fact, private trusts have several great advantages over a Will. While a Will is often challenged in the courts - and the resultant dispute can take years to be settled - a properly created trust will avoid any such family strife. Secondly, through a trust you can pass on your wealth even during your lifetime.

This book offers you both expert guidance on how to distribute your wealth as you want and save taxes whether by means of trusts or through a valid Will in a tax-efficient manner:

• The various types of private and family trusts you can set up
• Principles and procedure for creating a valid private trust
• Advantages and tax planning aspects of private trusts
• The concept and advantages of a living trust
• How to transfer wealth to your family members, including minor children, during your lifetime through a trust
• How to draft, execute and register your Will
• What you can bequeath through your Will - and what you can't
• How to create a new HUF through a Will
• Tax and succession planning through a Will
• Ready-to-use drafts of typical Wills