The Charismatic Charlie Wade – Chapter 4825

In Europe and the United States, a family trust is a very safe way to protect assets. There is a saying that only three generations are rich.

The reason is that the fathers and grandchildren are in charge of the estate, but the children and grandchildren are extravagant, ignorant, and incompetent, which can easily lead to the bankruptcy of the family and return to its original shape overnight. And another reason is that the ability and character of the children and grandchildren are uncontrollable.

Once there is a problem with his ability and character, it is difficult to avoid the decline of the family. Not to mention, there are all kinds of natural disasters besides man-made disasters. However, family trust effectively eliminates the risk of natural and man-made disasters.

Putting your own money into the trust, on the face of it, even you have given up direct control over the money. Only your descendants or designated heirs can get the money in the trust under certain opportunities. Therefore, even if they encounter major problems in the future, causing the entire family to become indebted, go under debt or even go bankrupt, the government and creditors theoretically have no right to dispose of the other party’s family trust.

This is also the fundamental reason why many old-fashioned families in Europe and America have been able to remain prosperous for several or a dozen generations.