Cash Trust

What Is UBB Cash Trust and How Does It Work?

The UBB CASH TRUST is a trust that you establish in which you deposit funds that can be made available to your specified beneficiaries in the event of an emergency. It provides rapid cash for expenses and relief during times of crisis, allowing your family to live by until the insurance pay out and/or access to your money in bank accounts following probate and will execution. UBB Amanah is the first to establish the Cash Trust, which is now imitated by competitors.

Why UBB Cash Trust?

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You Can Use The UBB Cash Trust As A Safety Net.

UBB CASH TRUST will keep your family solvent until the insurance claim is paid and your bank accounts are freed following probate. This money can also be utilised to pay for legal expenditures linked with obtaining inheritances and funeral expenses.

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You Need UBB Cash Trust To Access Cash

It will help your family with the fees of acquiring the Letters of Administration or Grant of Probate (mandatory legal documents) needed to unfreeze your assets (such as a bank account) after your untimely demise. This legal process will typically take more than 6 months and will be a significant strain on your family, who is already grieving. You should set up a reasonable amount in a UBB Cash Trust to cover these legal charges as well as your family’s living expenses during that time.

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UBB Cash Trust Is Creditor Proof

It is a sum of money that you or your beneficiaries can withdraw at any time; however, terms and conditions will apply, if the funds are withdrawn before the maturity period.

Be Prepared For The Worse

Planning for an unexpected event in your life is like wearing your seatbelt. On any given day, you expect to drive safely to your destination, but you wear seatbelts every time you get in your car as a precaution.