TRUST SERVICES
Standard Trust
To protect your assets and guarantee that they are managed and distributed exactly how you want, when you want.
What is a standard trust?
- A standard trust is a legal arrangement where you (the Settlor) transfer ownership of your assets into a trust. The trust will then be managed by the appointed trustee who shall manage and distribute the funds to the beneficiaries (e.g. family members) in accordance with the trust deed and letter of wishes.
- This type of trust is usually set up as a discretionary trust allowing the trustee to have flexibility when it comes to income distribution among a defined class of beneficiaries.
- It is one of the most popular and flexible estate planning tools as it allows you to protect and manage your assets during your lifetime and ensures they are distributed according to your wishes after you pass.
Key Components of a Discretionary Trust
What are the benefits?
Controlled distributions
The funds can be distributed only as and when needed
Prevention of mismanagement
Trustees are legally and ethically bound by fiduciary duty
Reduces family disputes
Clear instructions can reduce conflicts among family members
Avoids the probate process
Saves time, money, and keeps matters private
Protects you in incapacity
Ensures your affairs continue without court intervention upon incapacitation
Who should consider a standard trust?
