A trust is a legal arrangement that enables individuals to give away their assets, in a tax efficient and controlled way for the benefit of nominated beneficiaries.
A trust arrangement is a good option for securing financial provision for your family in case of unforeseen circumstances. It may help in tax planning such as to minimise tax liabilities while allowing you to set the guidelines on how your trustees should manage the trust according to your wishes or the beneficiary’s circumstances.
With Discover Life’s help, you can establish a Trust as simple as the following steps:
:: Create a contract which is the governing instrument.
:: Select a Trustee
:: Nominate the beneficiaries
:: Convey your assets such as shares, bonds, property, unit-linked investment into the Trust.
In this case, you give up the legal ownership of the assets in exchange for beneficial units. A trustee will be the rightful owner of the assets who will arrange the trust in accordance to the guidelines as set by you for your benefit.
For investor who is constantly travelling from place to place, a trust company can be appointed to manage the overseas correspondences on your behalf.