A Trust is a legal arrangement that allows a third party, known as the Trustee, to hold and manage assets on behalf of beneficiaries according to the terms set by the owner (known as the Settlor). It's often used for estate planning, asset protection, and wealth management.
Setting up a Trusts offers various benefits, including wealth protection against creditors, probate avoidance, efficient estate distribution, privacy protection, not easily contested and additional funds to beneficiaries. We can help you manage and safeguard your assets for yourself and your loved ones.
The Trustee is responsible for safeguarding and enhancing the Trust Fund, ensuring the terms of the Trust are followed, and distributing assets to beneficiaries according to the Trust's provisions.
The ability to make changes to a trust depends on whether it's revocable or irrevocable. Revocable trusts can be amended or revoked, while irrevocable trusts are generally more difficult to change. Our experts can guide you on the best approach based on your goals.
No, Trusts can benefit people from various financial backgrounds. They serve a wide range of purposes beyond just wealth preservation and are accessible to anyone looking to achieve specific financial and personal goals.
Trusts are designed to address various scenarios. In the event of Settlor’s demise or coma, the trust document provides instructions on asset management and beneficiary distribution, typically without the need for probate.
Yes, both Muslims and non-Muslims can create a Trust.
The Trust Fund held by the Trustee on behalf of the beneficiaries are separated from the Trust Company's assets. Therefore, in the event that the Trustee declares bankruptcy or winding up, a new Trustee will be appointed by the High Court to continue managing the Trust Fund as it is a distinct account and unaffected by the Trustee's bankruptcy.
Financial planning for a business involves assessing its current financial status, setting financial goals, and developing strategies to achieve those goals. It may include risk management, business succession planning, investments, asset management, setting up corporate trust and tax optimization.
We will identify the types of risks associated with your business and then provide the solutions that meet your business needs. We may recommend insurance solutions, setting up corporate trust, contingency plans and risk mitigation strategies to protect the business and stakeholders from unforeseen events.
A good business succession planning ensures the smooth transition of leadership, preventing disruptions in operations when key leaders retire, resign or face unexpected events. This will also help to protect the assets and reputation of the business as well as minimizing disputes among stakeholders.
A Corporate Trust can be customized for your organisation's specific needs which may include; Escrow Services (monies, properties, funds and other forms of assets are held by Trustee on behalf of two other parties that are in process of completing their respective contractual arrangements); Custodian Services (Trustee will hold and safekeep clients' assets in order to minimise the potential risk of misappropriation, misuse, theft and/or loss); Charitable Trust and Foundation (Trustee will act as fiduciary in overseeing and monitoring the foundation to ensure the objectives are met).
Retirement planning is essential to ensure financial security during your retirement years. It helps you estimate how much money you'll need, create a strategy to achieve those financial goals, and maintain a comfortable lifestyle after you stop working.
It is advisable to start planning for retirement as early as possible. The earlier you begin, the more time your investments have to grow. However, it is never too late to start, and even small contributions over time can make a significant difference.
The amount you need for retirement depends on various factors, including your lifestyle, health, anticipated expenses, and retirement goals. We can help you estimate your retirement needs based on your individual circumstances.
Retirement planning has to be certain. If retirement planning has risks and uncertainties, it is not a good retirement planning. We are able to assist clients to ensure they will be able to achieve their retirement goals based on their individual circumstances including affordability and lifestyle.
Legacy planning ensures that your assets are distributed according to your wishes, minimizes potential family conflicts, and allows you to pass on not just wealth but also values, traditions, and charitable intentions.
People often start considering legacy planning later in life, initiating the process earlier allows for more thoughtful consideration and the opportunity to make adjustments over time.
A Family Trust is a legacy planning solution that can help you legally determine who will receive portions of your wealth after you pass away. By setting up a Family Trust, it protects your loved ones from incurring additional costs or taxes in the future when inheriting your wealth.
If you have assets that you want to pass on to your loved ones after you're gone, then a Family Trust will legally make sure they are left on your terms. It also ensures that your family will be able to avoid the sometimes painful, long and expensive process of probate.
An Education Trust is where the funds and/or property contained within go towards supporting a loved one's education or to establish or finance schools. The Education Trust is managed and controlled by the Trustee based on the terms set out for the Trust. Education is not only a good gift for your loved ones, it is also one of the best legacies that anyone can leave.
Education planning is important because it helps individuals and families prepare for the cost of education, whether for themselves or their children. It allows for setting financial goals, estimating expenses, and developing strategies to fund education without compromising overall financial well-being.
It is ideal to start education planning as early as possible. The earlier you begin, the more time you have to save and invest for educational expenses. However, even if you start later, having a plan in place can still make a significant difference.
Education expenses include tuition, fees, books, supplies, room and board, and other miscellaneous costs. It's essential to consider both current and future costs, taking into account potential inflation and the choice between public and private institutions.
Yes, education planning should be flexible to accommodate changes in financial circumstances. This may include adjusting the savings rate, investment strategy, and considering alternative education options based on the financial situation at the time.
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