Last week we looked at why many expats should consider trusts to assist them in several ways. Today we delve deeper into the practical use of trusts as efficient financial planning solutions.
Our example, 52-year-old Jim, is a typical expat in Asia with circumstances that would allow him to make good use of trusts. He is British and well established in Thailand, with his Thai wife, Nok, and two daughters. Jim has a son from a previous marriage that produced a grandson.
Jim's eldest daughter is currently planning to marry and Jim has reservations about her fiance. He is concerned that if he suddenly died there could be problems in that his future son-in-law could gain access to his legacy.
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