In this conversation, Hanwei discusses the significance of trusts in estate planning, particularly in the context of Singapore. He emphasizes that trusts are not merely legal instruments but declarations of intent that provide structure and peace of mind for families. The discussion covers various types of trusts, their roles in protecting assets, ensuring continuity, and managing wealth across generations. Hanwei also highlights the importance of professional oversight and the need to consider tax implications when setting up trusts, especially for those with international assets.Takeaways

• A trust is a declaration of intent for your family.
• Trusts provide structure and peace in uncertain times.
• They can manage overseas investments and protect assets.
• Professional oversight is crucial for effective trust management.
• Trusts can ensure continuity in case of incapacity.
• They help avoid probate delays and complications.
• Trusts are not just for the wealthy; they are for the wise.
• Tax implications must be considered when setting up trusts.
• Trusts can provide ongoing income for dependents.
• Revisiting your will every few years is essential.

• "You want structure, you want peace."
• "Trusts can step in as that financial backbone."
• "Don't let fear or uncertainty hold you back."

Sound Bites

• "You want structure, you want peace."
• "Trusts can step in as that financial backbone."
• "Don't let fear or uncertainty hold you back."