Exotic Business Solution

Trust Management Services in Malaysia

Private Trust set up is for the benefit of one or more ascertainable beneficiaries. Setting up and managing Trust can be easier if you engage with professional management. How can you manage your Trust?

Firstly, you need to determine whether a Trust is right for you. You need to decide whether to set up a personal Trust when you create your estate plan. Trusts can be an excellent tool for you to accomplish your financial goals. Regardless your goal is to provide lifestyle continuity for your family, contributing to your grandchildren’s education, caring for your elderly parents, or helping to provide for the financial well-being of your surviving spouse, a Trust is something that can provide you with both the control and the flexibility you need.

When you are considering to name one or a few individual trustees, a corporate trustee or a combination of individual and corporate trustees, you should take in some of the following elements into consideration.

Experience

The trustee of your Trust carries a significant responsibility for the financial well-being of your current and future beneficiaries. Your trustee should feel comfortable choosing and monitoring the investment manager, weighing and evaluating requests for distributions and making potentially difficult decisions.

Moreover, your trustee also needs to be willing to accept significant recordkeeping responsibilities, which includes accounting for the receipt and disbursement of income and principal from the Trust assets and prepare and filing any annual Trust income tax returns that are required. Hence, having an inexperienced trustee may not be the best solution.

A corporate trustee with experience and expertise in Trust and investing is an attractive alternative.

Objectivity

Sometimes, even in the most loving families, relations can somewhat become difficult and emotionally charged. It will be difficult for a trustee to act objectively when crafting Trust document that explains your intent and provides directions, if your trustee is your parents, siblings, relatives or friend.

Comparing to a trustee who is someone close to you, a corporate trustee, on the other hand, who is an outsider can make decisions free from bias and considerations of family dynamics. 

Confidentiality

It is likely to be your top consideration when it comes to the details when setting up your Trust. You should feel assured that your privacy and financial matters will be valued and treated with the utmost respect. Hence, corporate trustees would be your better choice.

Continuity

While the responsibilities for trustees are such significant, illness or age could actually prevent an individual from performing the duties of a trustee. Therefore, by choosing a corporate trustee, it will help you with the continuity for the full term of your Trust, to better protect your future.

By engaging with us as your corporate trustee, we will keep you up to date with all these:

  • Monthly statements showing all accounts activity for the period
  • Quarterly reviews, which provide a market overview for the three-month period, information on investment decisions made on behalf of the Trust.
  • Extensive documentation, which includes estimated tax basis and gain (loss) information

Apart from that, by appointing us as your Trustee, we will take care of the Trust Administration as well:

  • Administering the Trust in accordance with the Trust instrument
  • Administering the Trust in an unbiased and professional manner
  • Maintaining all bookkeeping and recordkeeping
  • Performing annual administrative account reviews
  • Preparing and filing all required fiduciary tax returns (federal and state) for all irrevocable Trusts
  • Handling insurance premium payments and notices for irrevocable life insurance Trusts

By engaging us for Trust Management Services, we would be able to provide you with support, advice and guidance from private Trust setting up till Trust management services to ease your burden, assist you for a better provision in your future. Contact us today for more information.


Related Link
– Estate & Trust Planning With Custody Services
– Islamic Estate & Trust Planning Services
– Private Trust Set Up in Malaysia
– Trust Management Services in Malaysia