Wealth Transfer Planning
What is the difference between having a will and a family wealth trust?
The answer to that question is literally the difference between what is a will and what is a trust. A will is a set of instruction that comes into effect immediately upon the death of the testator. It instructs as to who’s to receive what when the testator dies. A family wealth trust on the other hand, passes along family values, family aspirations, family goals in addition to the money, and is generally intended to pass those things along for generations to come.