Declaration of TrustSimple, Flexible and Powerful
Declaration of Trust is a simple, flexible and powerful instrument that providing for your beneficiaries and securing their financial well-being.
It is NOT subject to the Grant of Probate or Letters of Administration. It is REVOCABLE and the contents can be amended anytime during the lifetime of the Settlor.
It is REVOCABLE and the contents can be amended anytime
A Declaration of Trust is an estate planning tool that compliments a Will where the owner of the assets (Settlor) will create a trust settlement by declaring that the assets that he owns are actually a trust assets and he plays the role as a Main Trustee and he is holding the asset for himself and/or any others person who are named as a beneficiaryies.
Under the Declaration of Trust, the Settlor (you) appoints Rockwills Trustee Berhad as the Substitute Trustee and executes a Power of Attorney in favour of Rockwills Trustee Berhad as the Substitute Trustee. This will make sure the trust assets will be distributed to your beneficiaries without any delay when one of the triggering events occurs. Before any of the triggering events occurs, you still retain control and ownership of the trust assets.
You need not transfer the assets yet until any of the following triggering events that are determined by you occurs:
- Death
- Total Permanent Disability (TPD)
- Critical Illness
- Mental Disability
- Comatose
- Disappearance
- Resignation as Trustee
You may also include other specific events to enable us to act as Trustee.
How to set up Declaration of Trust?
What assets can be used for the Declaration of Trust?
Any asset in West Malaysia, whether encumbered or not, such as your residential property, unit trust / mutual fund investments, shares of private companies, moneys in your bank account(s), can form part of the Declaration of Trust.
For more information about estate planning, please call us for FREE CONSULTATION at:
012-369 1993
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