Planning to set up a trust? Reduce litigation risk, say analysts

It's exempted from the probate process; courts don't get involved in its execution

With stories of loss of life due to the pandemic coming in every day, those who have not given any thought to estate planning should do so at the earliest to secure their family’s future.

A Will works well for smaller families with simpler inheritance objectives. It is also cost-effective. However, in many instances, the authenticity of the Will gets challenged, resulting in lengthy court cases. This can be avoided by setting up a trust. 

Moiz Rafique, managing partner, Privy Legal Service LLP, said, “There is no court involvement in a trust, which is why I would recommend creating one