Don't risk your fortune on true love like JLo, use a Trust to protect your assets!
It's emerged that Jennifer Lopez won't draft a prenuptial agreement if she marries again despite her multimillion dollar fortune. Big mistake! After all, the singer has been divorced three times already. But prenuptial agreements aren't the only way you can protect your assets, a Trust is perfect for the job. If you have one and your marriage breaks down, your assets WILL be protected…
Jennifer Lopez already has three failed marriages behind her. Now she’s dating again and “apparently she’s certain that boyfriend Casper Smart is the one,” reports All4Women
If this ends in wedding bells, JLo reportedly will “refuse to draft a prenuptial agreement”. This means her estimated $250 million fortune won’t be protected in the event of another divorce.
But even if Lopez doesn’t fancy a prenuptial agreement, there are other ways that she can protect her assets. And they’re available to you too...
A Trust is the perfect vehicle for asset protection
A Trust protects your assets in the event of any unforeseen eventualities, like divorce or insolvency. And that makes a Trust (or a number of Trusts for that matter) the perfect means to hold your assets.
To give its ‘proper’ definition, a Trust is a legal arrangement (similar to a company). It involves a person (the “settler”) transferring legal title of assets to another person or body (the “Trustees”) to hold for the benefit of one or more persons (the “beneficiaries”), which may include the settler.
This is because you’re distancing yourself from your assets. As the assets don’t belong to you, they can’t be claimed from, highlights Gavin Fourie in The Trust Report
It makes no difference if your assets are valued at R250,000 or R30 million, your assets will be protected in a Trust. There’s no minimum limit for asset protection
If you want to protect your assets from unforeseen events, like divorce, don’t be like JLo – use a Trust to keep your fortune where it belongs.