Estate planning is a crucial process to ensure your loved ones are cared for and your assets are distributed according to your wishes. However, deciding between a simple will and a trust can be confusing. By answering these five questions, you can determine your specific needs and make an informed decision.
Question 1: Do You Have Minor Children?
If you have minor children, it is important to consider how their inheritance will be managed until they reach adulthood. While a simple will allows you to name a guardian, it may not provide sufficient control over how their inheritance is handled.
Solution:
- A testamentary trust may be a better option. It allows you to set conditions for distributing assets, such as specific ages or milestones.
- For more on testamentary trusts, refer to Why Do You Need to Set Up a Testamentary Trust for Your Minor Children?.
Question 2: Are You Concerned About Spendthrift Beneficiaries?
Do you have beneficiaries who may struggle to manage their inheritance responsibly? A simple will gives them direct access to their inheritance, which may not be ideal in such cases.
Solution:
- A trust enables controlled, periodic distributions or conditional access to funds.
- A discretionary trust allows the trustee to manage distributions based on the beneficiary’s needs and circumstances.
- For an example, read How Can a Testamentary Trust Secure Your Children’s Future Better Than a Simple Will? Part 2
Question 3: Do You Have Loved Ones with Special Needs or Long-Term Financial Dependents?
If you support dependents with disabilities, elderly parents, or other family members who rely on you financially, a simple will may not provide structured, long-term financial care.
Solution:
- A trust can ensure ongoing financial support for a disabled loved one without affecting their eligibility for government aid.
- It also allows you to set aside funds for the long-term care of an elderly parent or dependent while minimizing the risk of mismanagement.
- Learn more about estate planning strategies for special needs families in What Are the Estate Planning Strategies for Families with Special Needs Children?
Question 4: Are You Concerned About Probate?
Probate can be a lengthy and costly process. If you want to ease the burden on your beneficiaries and avoid unnecessary delays, this is an important factor to consider.
Solution:
- An insurance trust allows life insurance proceeds to be distributed efficiently without going through probate.
- Learn more in What Is an Insurance Trust? Do I Need One?
Question 5: Do You Want to Provide for Charitable Giving?
If you wish to support a charity, a simple will may not offer the flexibility needed to achieve your philanthropic goals.
Solution:
- A trust allows for structured, long-term financial planning to ensure your charitable intentions are fulfilled.
- Consider a charitable trust to make ongoing donations to the charities of your choice.
Deciding between a simple will and a trust depends on your individual needs and long-term goals. If you’re unsure, consulting an estate planning professional can help you navigate the complexities and choose the right solution.
You may make an appointment with our legal advisor here: https://calendly.com/finex-and-co-legacy-advisory/tea-talk-with-legal-expert
5个问题让你了解自己到底需不需要设立信托，还是一份简单的遗嘱就够了?
资产规划是一项非常重要的安排，它能确保你所爱的人得到妥善照顾，资产按照你的意愿分配。可是很多人都会卡在一个问题：到底是写一份简单的遗嘱就好，还是要设立信托?
这两个工具的功能不一样，适合的对象也不一样。以下这5个问题，能帮你更清楚了解自己的情况：
问题一： 你有未成年的孩子吗？
如果你有孩子还没满18岁，重点不只是找个监护人而已，还要想留给他们的资产要怎么安排，才不会一下子全交到他们手上。
解决方案：
- 可以考虑设立一个“遗嘱信托（Testamentary Trust）”。这个信托是等你离世后才会开始启动，你可以设定条件，比如孩子满多少岁、完成学业、或达成某个人生阶段后，才分配资产。
- 想了解更多？请参考：为什么你需要为未成年子女设立遗嘱信托？
问题二：你的家人是不是不太会理财？
如果你担心你的受益人拿到一大笔钱后可能一下子就花光，或者被人骗去，那单靠一份遗嘱其实风险蛮大的。
解决方案：
- 设立一个信托，可以安排每个月或每年定期发放一笔钱，或者设条件才可以动用资金。
- 全权信托（Discretionary Trust）也很适合这种情况，让受托人(Trustee) 根据受益人的状况灵活处理分配。
- 可以参考我们其他的案例：如何通过遗嘱信托更好地保障孩子的未来？-第二部分
问题三：你有需要长期照顾的亲人吗？
如果你有残疾的孩子、年迈的父母，或者其他经济上长期依赖你的人，一份简单遗嘱就很难保障他们的生活质量。
解决方案：
- 透过信托，他们可以持续获得生活费，同时不会影响他们申请政府津贴或援助。
- 你也可以设定特定资金，只给特定亲人使用，避免其他继承人误用这笔钱。
- 了解更多可以查看：有特殊儿童的家庭有哪些资产规划策略？
问题四：你的家人急需生活费吗？
在大马，如果通过遗嘱来分配财产，通常都要走一段时间的法院流程，有时候几个月甚至一年多。期间家人可能动不到任何资产。
解决方案：
- 可以考虑设立保险信托（Insurance Trust），让保险赔偿金在你离世后直接发给指定人选，不用等法庭批准。
- 了解更多：什么是保险信托？我需要设立保险信托吗？
问题五：你想要做长期支持慈善机构吗？
有些人希望离开后还能继续帮助某些慈善机构，但普通的遗嘱在这方面的安排比较有限。
解决方案：
- 可以设立慈善信托（Charitable Trust），把一部分资产安排给你想要长期支持的机构，方式更有弹性也更稳定。
遗嘱 vs. 信托，没有哪一个一定比较好，重点是看你的家庭结构和你想要达到的目的。
