What is Trust? (4)

          Wills and Trusts are not mutually exclusive. Even those who are very wealthy are unlikely to transfer everything they have into a Trust during their lifetime. The Will then covers all residual assets that remain upon death. Hence, it is important to have both Will and Trust to form part of a proper comprehensive estate plan. We can say that a Will is a must, but a Trust is depending on your situation.

What is Trust? (3)

          The Trust can be one of the effective legal tools to help you manage, protect, preserve and distribute your wealth or your financial plan. It can also be used to maintain yourself in the event some critical illness struck.

          It requires the Settlor to give away his assets such as shares, money and property to a trustee such as Rockwills Trustee Bhd to hold on trust for the benefit and enjoyment of the beneficiary(ies). The Settlor may impose conditions for the Trustee to follow, such as releasing monies only for a certain purpose or in a staggered manner.

What is Trust? (2)

          During the attestation of the trust instrument, only one witness is required to be part of the process of execution. The Trust settlement is effective once it is executed by the Settlor and the Trustee, unlike a Will.

          A trust can last as long as up to 21 years beyond the death of a person named in the trust or for a period of 80 years from the date of the trust instrument.

What is Trust? (1)

          A Trust is a legal arrangement whereby the owner (the Settlor) entrusts another party (the Trustee) to take care of his asset/s for the benefit of the beneficiaries he has chosen under instructions in the form of a trust deed.

          Trust is an excellent solution for many different kinds of problems regarding wealth accumulation, wealth protection, wealth preservation and wealth distribution. A trust is ideal for example when your children are too young and you are concerned that the guardian may not do a good job of safeguarding the assets meant for their university education and life needs.