Trust Services

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Private Trusts:

Globally, private trusts are widely used as an effective tool for estate and succession planning. High net worth families set up private family trusts for smooth inter- generation transfer of wealth. In addition to Wills and Executorship, as part of it’s bouquet of estate planning offerings, Warmond helps high net worth families with trust formation and also acts as a corporate trustee for the trusts wherever mandated.


Benefits of setting up a Private Trust:

  • No probate requirement
  • Protect the interest of current and future generations
  • Distribution of assets according to individual wishes or needs, rather than by statutory disposition
  • Consolidation of assets
  • Wealth preservation
  • Administration and management of the trust fund
  • Avoid conflict amongst beneficiaries
  • Superior structure than a Will
  • Address philanthropic needs
  • Provide for incapacity of the settlor
  • Channel end usage of assets

Who should create a trust?

  • Promoters / Business owners who wish to segregate management & control and economic interest
  • Indian residents who have beneficiaries residing abroad
  • Parents of minor children - managing and preserving wealth for children who are too young or financially incompetent
  • Those having a special child
  • Families desirous of setting up multi-generational trusts
  • Those intending to contribute towards philanthropy
  • Families looking at rainy day planning
  • Those looking at creating life trust for children - protection against failing marriages, other uncertainties in life

 

Trusteeship/ Trust Management:


Following are the broad scope of work for trusteeship service:

  • Managing and administering assets under the trust
  • Keeping books and accounts
  • Administering investments
  • Acting in the best interests of the beneficiaries
  • Implementing the directions of the settlor
  • Distributing assets to the beneficiaries in the manner provided by the settlor

Benefits of appointing a Corporate Trustee:

  • Independent
  • Professional approach
  • Continuity
  • Better control over assets
  • Operational efficiency
  • Easy accessibility

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