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What is a Trust? PDF Print E-mail

Trust it is where you the Settlor transferring your assets during lifetime to Trustee with a written legal obligation (Trust Deed) to hold and manage the assets (Trust Property) for the benefit of your named persons (Beneficiaries) for a period of time. All assets that are free of encumbrances (not in debt) can be used as a Trust Property.

Trustee

Any person, Trust Corporation or Bank who holds the legal title of the assets and to manage the assets according to the instruction and obligation given by the law and Trust Deed.

Any person who is not unsound mind, bankruptcy and minor is legally capable appointed to be a Trustee.

Trust Deed

A written legal obligation transferring the ownership of a property to a Trustee (Bank, Trust Corporation or Individual), for the purpose of securing a promissory note.

Trust Deed is a private document between the Settlor, Beneficiaries and Trustee.

Trust Deed is custom made for each and different objectives and goals.

Trust Properties

Any properties that free from encumbrances can be held as a Trust Property.

Properties used in a Trust Establishment.

 

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