Private Wealth Services

An Overview of Private Trust

A private trust is a trust where the beneficiary (the person or entity which receives the equitable title in the property) is private and non-charitable. Thus, this is opposed to a charitable trust, which has charitable beneficiaries. The distinction between private trusts and charitable trusts, while obvious, is necessary because there are certain requirements and conditions which apply to one but not the other. Private Trusteeship are set up for the maintenance, education and benefit of children and grandchildren. The main aim is to provide for the day-to-day needs of the beneficiaries and for the payment of their educational costs.

Trust Benefits :

  • Assets and monies are properly invested

  • The Trustee manages, and administers the Trust Assets independently

  • Trust Fund monies are utilized for intended beneficiaries

  • The terms of distribution are decided by the Settlor (owner)

Parents of young children and key providers should set up this Trust

A life assurance policy can be absolutely assigned to us and create an Insurance Trust instantly in favor of the spouse and/or children named as beneficiary in the policy. 


Any one who has invested in an insurance policy and has dependents should set up this trust.
 

© 2020 Copyright By Pacific Trustees Singapore
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