Founder & CEO of Altvest Capital Partners
Director (Wealth Management) at Swiss-Asia Financial Services
Trusts
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Confidentiality
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Asset Protection
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Estate Planning
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Avoiding Probate
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Liquidity
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Succession Planning
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Benefits of Trusts
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Absolute
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Discretionary
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Excluded Property
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Discounted Gift
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Loan
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Lifestyle
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Tailored Life
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Excess income
Types of Trusts
A trust is a legal relationship, in essence it's an entity in its own right, where the first person (the settlor) transfers their assets to a second person (trustee) to manage the assets for the benefit of a third person (beneficiary). Whilst there are numerous types of trusts they have the same components.
In order to maintain an "arms length relationship" rather than the settlor specifically instructing the the trustees what to do, they guide them through a "letter of wishes". In order to ensure clarity and continuity, the settlor can also appoint a Protector to the trust.
Settlor
The person placing the assets into the trust.
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Trustee
The people overseeing and managing the trust and the assets within it.
Beneficiaries
The person or persons benefiting from the trust proceeds.