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  • Writer's pictureTeresa Lee

Why you need a 'Trust'?

Updated: Jul 10, 2023

There have several types of Trust available nowadays e.g. Family Maintenance Trust, Insurance Trust, U-Declare Trust, Family Business Succession Trust and Business Value Protection Trust.

Trust is an Estate planning tool designed to protect and distribute the trust assets to named beneficiaries under terms you specify in the trust to be followed by Rockwills as the Trustee.

A protector is recommended to be appointed as he acts as a 'watchdog' for your beneficiaries, he checks on the Trustee, When necessary he can recommend additional payment to your beneficiaries.

The assets that you can put into a Trust including Cash, Insurance policy, unit trust, properties, bank accounts and company shares.

Trust allows you to:

1. Quick Distribution

- Hassle free, avoid lengthy probate process to solve your financial dilemma upon death, total permanent disability, mental incapacity, comatose and disappearance.

2. Distribute your assets as your wish

- You have all the rights. You decide the beneficiaries, allocation and time of distribution. Also, you may control and stagger distribution to prevent squandering.

3. Business Succession

- You can plan for your business succession or exit arrangement

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