Want to transfer your assets? Here are 5 tools for a smooth inheritance
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Gift deed
It is a legal document that allows a person to voluntarily transfer movable or immovable assets. The transfer happens without any consideration.
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Private family trust
It allows individuals to transfer assets to a legal entity managed by a trustee. The trust is created to benefit specific individuals.
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Settlement deed
It’s a legal document that gets all family members to agree to the terms of distribution of assets. This ensures clarity and avoids disputes within the family.
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Will
This legal document specifies how a person’s assets should be distributed among beneficiaries. It becomes effective after the individual’s demise.
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Testamentary trust will
This is a private trust formed through a will. It becomes operational only after the individual’s demise.