Succession-5Trust Plan

Trust is set up for the maintenance, education and benefit of children and grandchildren. The main aim is to provide for the day-to-day needs of the beneficiaries and for the payment of their educational costs.

Trust Benefits :

  • Assets and monies are properly invested
  • The Trustee manages, and administers the Trust Assets independently
  • Trust Fund monies are utilized for intended beneficiaries
  • The terms of distribution are decided by the Settlor (owner)

Who should set up this Trust:

  • Parents of young children and key providers

A life assurance policy can be absolutely assigned to us and create an Insurance Trust instantly in favor of the spouse and/or children named as beneficiary in the policy. The policy money does not form part of the estate of the assured and consequently no Grant of Probate or Letter Administration is required in making claim when the assured dies. Further more, the money payable under such a policy is protected against creditors subject to Section 52 of the Bankruptcy Act.
Any one who has invested in an insurance policy and has dependents should set up this Trust.

 

Care Trust is  the most common living trust created by settlor to provide regular maintenance (living, education, medical, etc) for his/her dependents or those who require special need/care.

  • Widow/ minor/ elderly parents/ spendthrift child/ handicapped, etc.
  • Trust administration takes effect immediately when trust is created.
  • Funded by liquid assets/ income-generated assets.
  • Can be fixed or discretionary (power to trustee to decide on the distribution)
  • Trustee holds and manages the trust asset and provide maintenance to beneficiary monthly/ quarterly/ yearly.
  • Settlor can impose certain conditions to be fulfilled by beneficiary to receive the benefit from trust. (eg. upon completion of tertiary education)

Pacific Insurance Trust (PINT)

  • Trust administration will take effect only upon the triggering event
  • Easily-funded trust where Settlor will continue to pay low premium
  • Settlor can include additional insurance policies from time to time
  • Ready fund to maintain dependents due to any sudden unfortunate event
  • Settlor can allocate special fund for Beneficiaries for specific purposes, such as for education and business capital
  • Settlor can ensure the insurance proceeds are used wisely by the Beneficiaries

Pacific Insurance Trust (PINT) is created by using insurance policies where only the Trust will receive the insurance monies (Trust Asset) during the triggering event (death) to benefit your Beneficiaries.

Investment Trust

An Investment Trust is an accumulative trust created using investment funding to benefit Beneficiaries or the Settlor.

  • Trust administration will take effect immediately on the date the Trust is created;
  • Funded by investments, such as unit trusts, shares, cash, real estate;
  • Settlor can appoint an investment advisor or himself/herself as the advisor during his/her lifetime;
  • Return-on-investment (ROI) to grow the size of the Trust;
  • Settlor and Beneficiaries can receive the benefit of the Trust during their lifetime;
  • Beneficiaries can continue to receive their entitlements after the Settlor has passed away.

Protective Trust

A Protective Trust is aprivate purpose trust is created by the Settlor to provide maintenance, education or medical expenses for his/her dependents, such as handicapped, spendthrift children or elderly parents.

  • Trust administration will take effect immediately on the day the Trust is created
  • Funding is through liquid assets
  • Settlor will determine fixed maintenance amount for his dependents during his lifetime
  • Trustee will continue to pay Beneficiaries’ entitlement of benefit according to the terms and conditions stated in the Trust Deed

Charitable Trust/ Foundation

A Charitable Trust is created by a Settlor to benefit the community with the purpose of relief of poverty, education, religion, etc.

A Charitable Foundation is a charitable body which requires incorporation with the Companies Commission of Malaysia. It can receive funds from the public and make donations to the community.

  • Charitable Foundation can apply for tax exemption for itself and tax deduction for donors.
  • The Foundation can exist in perpetuity.

Business Succession Trust

A Business Succession Trust is a trust arrangement where the business partners agree to transfer their portions of business shares to surviving partners in the event of the demise of any business partner.

  • Trust administration will take effect upon the triggering event (death of any partner)
  • Smooth transfer of deceased partner’s business interest to surviving partners.
  • Company will make valuation and purchase life insurance policies on each business partner’slife and assign absolutely the policies to the Trustee.
  • Each business partner will transfer his/her shares to the Trustee.
  • The Trustee will receive the insurance proceeds and pay to deceased partner’s family and transfer his shares to the surviving partner.

Customised Trust write up will be here soon. We apologize for any inconvenience.

Corp Trust-Meeting-2

Trust Administration

We also provide professional advisory consultation in structuring and creation of Trust whereby Pacific Trustees Berhad acts as the Trustee to safeguard the best interest of Beneficiaries.

Trust administration involves overseeing the assets held within a Trust. It is a necessary process that occurs after the Settlor’s death. The Trust Administrator oversees the distribution of assets within the Trust according to the Settlor’s wishes.

 Offshore Trust Creation and Administration

  • Singapore Offshore Trust
  • Labuan International Business and Financial Centre
  • Other offshore jurisdictions

Contact us

Pacific WillPlan Unit

Pacific Trustees Berhad,
(Co. Reg. No. 317001-A)
Unit A-9-8, 9th Floor,
Megan Avenue 1,
189, Jalan Tun Razak,
50400 Kuala Lumpur.

Fax: 603-2166 9830
Tel:  603-2166 8830

Email :ptsupport@pacifictrustees.com