Living Trusts

The Trust is a powerful and flexible estate planning tool for distributing assets while retaining control

WHAT IS A LIVING TRUST?

A Living Trust is a legal arrangement, setup during your lifetime, where you appoint a trusted person or entity, to hold and manage your assets for your beneficiaries, when you are unable to do so yourself.

Our estate planners will work with you to document down your wishes and intentions into a Trust Deed and a Letter of Wishes.

TRUST DEED

A trust deed is a legal document that outlines the terms of a trust. It is used to create a trust and establishes the rights and obligations of the parties involved, namely the settlor, trustee, and beneficiaries.

It is a binding agreement between the parties and sets out the rules that govern the trust. 

LETTER OF WISHES

A letter of wishes is a document that provides guidance and instructions to the trustee of a trust regarding the management and distribution of the trust assets.

It is not a legally binding document, but it can provide helpful context and direction for the trustee when carrying out their duties.

Why you need a Trust

Benefits of a Trust

  • ASSET PRESERVATION

    Trusts can be used to preserve assets for future generations, such as for the education of children or grandchildren, or for charitable purposes.

    PROTECTION AGAINST BANKRUPTCY

    Trusts can protect the assets from creditors of both yourself and your beneficiaries, helping to ensure that the assets are available for the intended beneficiaries.

    PROTECTION AGAINST INCAPACITY

    Trust can provide for the management of your assets in the event of your mental incapacity, by having the Trustee take over control of your assets

  • AVOIDING PROBATE

    Assets settled into a Trust can bypass a lengthy legal probate process and be immediately distributed to your beneficiaries.

    TAX MINIMISATION

    Trusts can be used to minimiSe estate and gift taxes, as well as to manage the tax implications of income and capital gains generated by trust assets.

    PROTECTION AGAINST DIVORCE

    Trusts can protect your assets from being divided in the event of a divorce, both your divorce or that of your beneficiaries.

  • BUSINESS SUCCESSION

    Trusts can ensure that your loved ones will benefit from the value and equity you have built up in your business while ensuring that your business partners are minimally affected by your departure.

    PRESERVING PRIVACY

    Wills and their content can be subject to public scrutiny after your demise, but a Trust can preserve you and family's privacy. This is commonly done by celebrities who have performed comprehensive estate planning.

    SPECIAL NEEDS PLANNING

    Trusts can be used to provide for individuals with special needs, such as children or dependents with disabilities, in a way that preserves their lifestyle and their dignity.

Process

This is the process we use to help you incorporate a Trust into your estate plans

INITIAL CALL

We start with a "no obligations" call to understand your needs, to determine if a Trust is suitable for your needs and to help you understand the overall process and estimated costs.

CONFIRM ENGAGEMENT

Once you are comfortable with the process and pricing, we will confirm the engagement with you by signing a Letter of Engagement and collecting a deposit payment.

FACT FIND

Next step is to understand and document your wishes and intentions. This will include what assets you want to distribute, who are the beneficiaries, how your assets are to be distributed and dealing with any concerns you may have.

REVIEW AND AMEND

After the Fact Finding process is done, a draft of your Trust Deed and Letter of Wishes will be made available for your review and clarification. Amendments can be made at this stage to accommodate changes in intentions. 

FINALISE AND SIGN

Once the draft documents are approved, we will arrange to sign the Trust Deed and Letter of Wishes. Any final payments will be made at this point. 

Pricing

Starting cost for Trust drafting services. Final cost depends on complexity of instructions.

LIVING TRUST

Trust drafting fees are in SGD and start from
$5,000
Before GST

TRUSTEE FEES

Annual Trust administration fees in SGD and start from
$3,000
Before GST

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