In a world where financial security often takes centre stage, it’s easy to lose sight of what truly matters – our loved ones and the legacy we leave behind. I have had the privilege of being part of numerous conversations about wealth management, asset protection, and financial planning. There is a perspective on trust services that often goes unnoticed, and it is one that resonates deeply with the core values of CardinalStone – the power of love and family.
A New Narrative: Beyond Wealth Preservation
Trust services have long been associated with safeguarding assets and ensuring their preservation for future generations, and as asset management and wealth preservation mechanisms, they are by far the best tool to use to shield assets from external threats such as creditors, legal claims, and unforeseen financial setbacks. This is particularly significant in Nigeria’s business landscape, where entrepreneurs and corporations must navigate economic uncertainties. By placing assets in a trust, individuals and businesses can protect them from potential risks, ensuring their longevity and continuity.
Trustees have expertise in legacy and succession planning, wealth management, taxation, and legal structures and related matters. This knowledge is instrumental in optimising the performance of trust assets, maximising returns, and adhering to regulatory requirements. This is of utmost importance in Nigeria, where the financial landscape is subject to evolving regulations and market dynamics.
While these things are undeniably of critical importance, there’s a richer and more profound narrative to explore that centres around the essence of love and the bonds that tie families together. At CardinalStone Trustees, we believe that trust services are more than just financial and legal instruments; they are expressions of love, and a commitment to the well-being of those we cherish.
Championing Protection, Legacy, and Succession Planning
Your hard-earned wealth is more than numbers on a balance sheet; it is the embodiment of your dedication, sacrifices, and dreams for your family’s future. Trust services offer a way to ensure that your aspirations are not only protected but elevated to the realm of enduring legacies.
Imagine trust services not as a cold and technical mechanism but as a conduit of love, protection, and legacy-building. A trust can serve as a bridge that spans generations, allowing your wishes to guide financial decisions long after you are gone, we call it “Life after Life”. It is a mechanism for creating continuity across generations, ensuring that the values, principles, and assets that matter most are preserved and transferred seamlessly. The role of a trustee extends beyond managing assets; it’s about preserving the essence of a family’s aspirations and values. Whether it’s funding education, supporting charitable causes, or simply providing for your family’s well-being, a trust ensures that your intentions become reality.
Addressing common misconceptions about Trusts
There is a common misconception that trusts are exclusively for the wealthy elite or individuals with substantial fortunes. This perception, however, does not accurately reflect the diverse range of people who can benefit from trust services in Nigeria. While trusts can certainly serve high-net-worth individuals, their applicability extends far beyond the realm of billionaires.
Trusts cater to a wide spectrum of individuals, including middle-class families, business owners, professionals, and even those with modest assets. For instance, parents seeking to secure their children’s educational future can establish trusts to ensure that funds are set aside for tuition and related expenses. The financial requirements for establishing trusts are not as daunting as commonly believed. The diversity of trust structures accommodates various income levels and asset sizes. From revocable living trusts that allow for the management of assets during a grantor’s lifetime to testamentary trusts created through wills, there are options suitable for different financial situations.
The idea that trusts are solely reserved for the ultra-rich is a myth that can deter individuals from exploring these beneficial arrangements. The true value of trusts lies in their versatility, adaptability, and ability to empower individuals from all walks of life to take control of their financial legacies, protect their assets, and shape the trajectory of their wealth for generations to come.
CardinalStone’s Distinctive Value: A Personalised Partnership
At CardinalStone Trustees, we differentiate ourselves through technical expertise and our unwavering commitment to our clients’ well-being and success. Our approach is rooted in building relationships and fostering partnerships that go beyond transactions. We understand that trust services are not isolated solutions – they are threads that weave the fabric of a family’s future.
Our bespoke approach means that we don’t just focus on numbers and legal structures; we focus on the lives these structures are intended to impact. When you choose CardinalStone Trustees, you are choosing a team dedicated to nurturing and preserving your family’s values, hopes, and dreams. Our commitment doesn’t stop at your lifetime; it extends into the future, ensuring that your legacy remains intact for generations to come.
Writing the Next Chapter Together
As you contemplate your family’s future and legacy, remember that trust services are not just about paperwork and finances. Instead, they should be seen as a powerful tool for expressing love, ensuring the welfare of your loved ones, and creating a legacy that transcends generations.
At CardinalStone Trustees, we are dedicated to embodying these principles and delivering trust services that reflect the true essence of care and commitment.
Trust services are about love, protection, and leaving a mark that echoes through, and we are honoured to be your partners on this journey of love and legacy.
This piece was written by Ereifemi Akeredolu, Managing Director of CardinalStone Trustees