Why consider trust and fiduciary services?
Trusts, foundations and other wealth structures can help you manage complex family wealth. They can help protect your family business and allow your wealth to be managed privately and independently. They can also provide continuity, preserving capital and helping family members enjoy financial benefits across generations.
Our trusts and other solutions are designed to suit your particular needs and ambitions, giving you a global solution for managing your wealth.
Choosing a trustee
Determining who will administer your structure is as important as your succession plan and the decision to create the structure itself. Trustees ultimately accept personal responsibility and legal liability for the financial welfare of the trust fund, so selecting a responsible trustee to protect, manage and distribute the assets in your trust is a key decision that will have lasting implications.
It’s essential to have a trustee with professional legal knowledge and financial expertise, as a trust may involve generations of work, detailed record-keeping and coordination with lawyers, accountants and other advisers. Trusts and other structures may also involve complex management, in addition to challenging financial and investment decisions.
Basics of a trust
A trust is a private arrangement whereby you, as the settlor, transfer the legal ownership of your assets (which then become the trust assets) to the trustee, who manages and holds the assets for the benefit of the beneficiaries. The beneficiaries may include you and your family.
- Settlor: contributes the assets.
- Trustee: takes legal control.
- Beneficiaries: enjoy assets.