Estate planning is an important and everlasting gift you can give your family. And setting up a smooth inheritance isn’t as hard as you might think.
– Suze Orman
What Is A Trust?
A trust is a legal structure created specifically to hold assets for the benefit of a beneficiary or beneficiaries. A trust enjoys specific legal protections under the laws of Malaysia. Any property, tangible or intangible, can be the subject matter of the trust. Talk to our experts if you need further clarification on this.
Why Create A Trust?
A trust can be used to help preserve and distribute wealth to meet a wide variety of personal and financial goals. Some people use them to protect assets from future claims while continuing to receive discretionary income and principal distributions from those assets. Others use them to pass wealth to future generations or to provide for charitable organisations.
Different types of trusts can be used to meet the goals of the person who establishes the trust. Some trusts require the grantor to give up control of the trust assets immediately, while others allow the grantor to retain control of the assets during his or her lifetime and to collect income from the trust prior to his or her death. It is not uncommon for someone to need more than one type of trust to meet all of their needs.
UBB Amanah offers a wide variety of options to cater for your every need, including a Cash Trust.
Family Trust Services
As Malaysians become more affluent and sophisticated, there is an increasing needs for professional trust management services. We take into account your unique circumstances, to provide bespoke trust solutions which are consistent with your personal goals and believes.
By creating a trust, we make it possible for you to secure incomes and assets, make provision for succession planning, create legacies and manage your wealth for future generations.
If the bulk of your assets consist of property and you intend to retain it after your passing, we will administer your properties based on your instructions, ensure that they are kept in good condition, rentals are collected on time and paid to the beneficiaries of your property trust.
Properties under a trust will NOT become a part of a deceased person's estate. They will be held discreetly and will be executed directly to the nominated beneficiary or beneficiaries swiftly.
An insurance trust is a trust where the life insurance policy of the grantor is held on trust by the trustee to be executed in accordance with the grantor's instructions upon his demise. Upon the death of the grantor, the trustee executes the insurance proceeds in favour of the beneficiaries. The proceeds shall be executed on a staggered basis or as a lump sum settlement according to the instructions in the Insurance Trust.
To thrive, businesses and corporations have to manage both growth and consolidation. Here are how trusts can be beneficial for your business assets and income. Make an appointment with our expert consultant to find out which trust suits your needs best.
Business trusts are a means of securing cash generating business interests for a class of beneficiaries. Business trusts can also be created to secure assets in the business for the benefit of the partners.
Stakeholder & Escrow Services
Undertake your transfers and business transactions with complete peace of mind knowing that we will act as a completely independent stakeholder.
Advantages of Having A Trust
Avoids Probate - Probate is the court-supervised process of distributing a deceased person's estate.
Save Your Money - Save money by avoiding probate expenses upon your death.
Protects Your Privacy - A trust is a private arrangement between the parties involved, and does not become part of any public record.
Provides assistance during your absence or incapacity.
Provides Certainty and a Peace of Mind.