FAMILY WEALTH INHERITANCE
Build Generational Wealth
I wish to structure my wealth in a better way to my children. Having heard that trust is good for estate planning but my conern is I will relinquish complete control over my assets. How can I ensure that my assets continue to appreicate while still retaining a certain level of control over them?
Our trust services allow you to consolidate your various assets under UTGL's professional management, providing growth opportunities and asset protection to ensure your family’s prosperity. With a trust account at UTGL, you have default power over investment decisions. You can simply provide instructions to the trustee regarding your investment goals, and we will proceed accordingly, always keeping the best benefit of the beneficiaries. The investment can be time deposits, stocks, bonds, managed funds, and more - all aligned with your specific goals.
Additionally, the trust structure provides access to our default offshore custodial accounts. You can securely park funds in your preferred jurisdictions to benefit from stability and privacy. By combining prudent global investment options with built-in offshore protections, our trusts not only allow you to grow your wealth but also shield it appropriately. The assets that will be passed down to future generations will be maximized. With our trust services, you can have peace of mind knowing that your assets are being managed professionally and strategically, while still maintaining a level of control over their growth and protection.
Protection for Loved Ones
In the face of unforeseen accidents and health crises, how can I ensure that my loved ones are taken care of in the event that I am suddenly no longer able to lead and provide for my family?
The trust deeds cover the provisions to smoothly distribute assets to beneficiaries upon your passing, avoiding the delays often associated with probate. All trust assets will be allocated to heirs according to the percentage entitlements you specify. This approach allows for a swift and direct transfer of wealth to your surviving spouse, family members, and other loved ones , ensuring that they receive their inheritance without unnecessary delays or complications.
By establishing a trust with us, you can rest assured that your legacy will immediately provide support to your family, rather than being tied up in probate. Our goal is to create a trust that not only cares for your loved ones during your lifetime but also continues to do so beyond your lifetime. Our professional trust expert can also work with you to determine the optimal distribution plan and beneficiary breakdown that aligns with your specific situation and wishes. Preparing these details upfront in the trust deed, we can ensure that your estate passes seamlessly to your heirs as you intend, also allow you to have full control over how your estate is distributed and ensures that your intentions are followed accurately.
Streamlined Family Wealth Management
What benefits do UTGL trust accounts offer in terms of overseeing my family's global wealth and finances?
By bringing all your worldwide wealth under UTGL trust account, one governance structure, you gain unified visibility and control. The trust can issue customized family credit cards to family members for authorized spending purposes. We also handle seamless payment of tuition, medical bills and other household expenses globally on the family's behalf directly from the trust. Through regular transparent accounting statements, you can clearly audit family finances, taxes, investments and fees in one place. Overall, our unified trust platform provides the tools to coordinate finances across generations and multiple households more smoothly. From centralized asset consolidation to tailored family credit cards and bill pay to consolidated reporting, we simplify global family wealth oversight.
Guarding Wealth Through Divorce
How can trusts help protect my wealth from complications like divorce?
Trusts can be used as a legal structure to protect assets from division during divorce settlements (various elements shall be considered such as the trust setup period, how the trust is being administered, terms of the trust etc). Trusts are designed to separate assets from personal ownership and place them under the control of a trustee who manages them on behalf of the beneficiaries. Trusts have the capacity to structure assets in a way that they remain separate from marital property. This arrangement prevents the assets held in trust from being susceptible to claims or division in a divorce.
*The degree of protection depends on the length of the trust setup
Estate Protection Over Remarriage
I am planning to remarry and have children from my first marriage. How can I ensure the assets I've acquired will go to my children and not just my new spouse after I pass away?
When planning to remarry and considering the welfare of your children from a previous marriage, it is crucial to ensure that your assets are protected and will be distributed according to your wishes. Establishing a trust can be an effective tool in structuring your wealth and safeguarding your children's inheritance.
By creating a trust before your remarriage, you can exert control over the distribution of your assets. You have the flexibility to determine who will benefit from your wealth, when those distributions will occur, and how they will be allocated—whether it's during your lifetime or after your passing. In fact, you can explicitly exclude your new spouse from benefiting from your trust fund, if that is your intention.
By utilizing a trust, you can have peace of mind knowing that your children's inheritance will be preserved and distributed according to your wishes, even in the event of your remarriage.
Prevent Family Disputes
Seeing how inheritance battles destroy family relationships in the media worries me. How can I prevent that same family disharmony and infighting between my own children and relatives when distributing my wealth?
Our trust account includes key advantages to avoid inheritance disputes down the line. When first setting up the account, you decide heir entitlements and percentages in a letter of wishes. This can be updated conveniently in our fintech trust platform as situations change, with confidentiality. Our Hong Kong trusts also offer privacy, as you don't have to report beneficiary details or changes to the government. The trust deed accompanying with the trust account is an ironclad legal document dictating distribution. Unlike a will, trust deeds avoid lengthy court challenges over validity that lead to infighting. By establishing a trust account today, you can prevent disputes and guarantee your assets flow seamlessly to your chosen beneficiaries when the time comes.
Avoid Forced Heirship
How can I get around restrictive forced heirship laws and distribute my estate as I want when I'm gone?
In certain countries, which adopt civil laws, such as Japan, France and others, forced heirship laws require successors to pass on a set portion of their estate to designated heirs, limiting your distribution flexibility. Our trust structures are designed to avoid these rigid entitlement rules. By placing your worldwide assets under your trust's ownership, your estate distribution falls under our jurisdiction's more flexible laws, Hong Kong. This gives you greater control to dictate exactly how your wealth is divided upon passing - you can specify any beneficiaries and custom percentage allocations in our trust platform based on your personal values and intentions, rather than abiding by restrictive legal regimes.
Will vs Trust
How would my family be affected differently if I pass away in Hong Kong with only a will versus having a comprehensive trust in place?
Dying without any estate plan in Hong Kong means your assets will be distributed according to the government's intestacy laws only. This may not align with your wishes. Writing a will gives you more control to dictate who inherits your wealth and assets. However, wills must go through probate which can be lengthy and costly. Your estate is also public record.
Setting up a trust is often a better option. Your precise inheritance instructions can be legally binding in the trust deed. Upon passing, assets transfer immediately to beneficiaries without probate, keeping your estate private. Trusts also avoid challenges to validity that wills often face. Your wealth is protected from creditors, taxes and risks during transfer as well. Overall, setting up a trust provide more control, speed and protection when passing on your legacy.
Tax Advantages
Living in a high-tax country, are you frustrated that nearly half of your assets could be lost to taxes before passing on your legacy?
The high tax rates mean your family may inherit less than you intended after you're gone. Isn't preserving your full wealth for your loved ones worth exploring alternative options? A trust implements reasonable tax minimization arrangements to effectively mitigate the overall tax liability of the family assets. A family office trust can obtain tax benefits, such as pre-tax or post-tax deductions. By establishing a family trust in Hong Kong, you can enjoy a favourable tax system and minimise your tax liability on income earned in or outside Hong Kong.
Testimonials
"A Trust provides peace beyond death. It supports my family unconditionally”
"As the global pandemic showed us, life can change in an instant through no fault of our own. When Covid swept through our community the last few years, many of my neighbors lost loved ones unexpectedly. I was so thankful that my family's future was already protected through the trust services from UTGL. Witnessing what others went through trying to sort out estates during that difficult time really drove home for me how important it is to have plans in place. Now if something were to happen to me due to an accident, illness or another unforeseen crisis, I take comfort in knowing my wife and children would be well taken care of financially.
As someone who has accumulated a variety of assets over the years like multiple properties, vehicles, investments and digital holdings, I knew I needed more than just life insurance to fully protect my family in case the unexpected happened. Setting up a Supreme trust account helped me identify all of my assets and make sure everything from my real estate investments to online bank accounts will be seamlessly transferred to my loved ones upon my passing. I don’t need to worry about lingering legal issues or losing access to digital funds. I don't have to worry about leaving loose ends or putting extra stress on my loved ones at a time of loss. Having a trust account through UTGL’s platform gives me so much more confidence than any single insurance policy could. I'm grateful for the peace of mind this has brought during such uncertain times."
Services Used:
Asset consolidation and succession planning with a Supreme trust account
John Wong
“The trust ensures that my kid received enough care and support she needed throughout her life .”
I am a single mother with a 11-year-old child, and I have been in a committed relationship with my new boyfriend recently. Unfortunately, my boyfriend does not want to live with my child and has made it clear that he does not want to be responsible for her upbringing. I was frustrated with what I should do for my kid. But then I discovered the UTGL trust which can be set up easily and I decided to establish a Supreme trust account and named my kid as the beneficiary for the succession planning. The trust ensures that my kid received enough support she needed throughout her life. I have issued a credit card under this trust to my previous partner and supported their living expenses by invoice payment service including my kid’s educational expenses.
As a result, my previous partner is happy to raise our kid with my full trust arrangement, so my kid does not have to go to the orphanage. The trust account with UTGL provides peace of mind and security for me as a parent. I highly recommend considering a trust for anyone who is concerned about succession planning for their children from your previous marriage.
Services Used:
Succession planning with a Supreme trust account
UTGL Asset Link Credit Card
Global invoice payment
Jennifer Miller, Single Mother
“We can’t wait to travel the world next year without any worries. ”
My wife and I were retired couples living in a small village. We have worked hard for 30 years, and our kids have already married and moved out. We decided to travel the world next year. To ensure that we have enough money to support our retirement and the trip next year comfortably, we decided to set up a supreme trust account with UTGL. We opened a securities account and invested in some stable investment products such as blue-chip stocks. We also applied for credit cards with unlimited credit limits and travel benefits for our trip next year, such as hotel discounts and lounge services. We are able to manage all investments, insurance policies and invoice payments only on the UTGL trust platform.
We tailored a letter of wishes for our after-life planning including the budget and arrangement for the afterlife ceremony. My wife and I highly recommend UTGL trust for everyone who wants to ensure financial security and freedom during retirement years. We can’t wait to travel the world next year without any worries. #retirement #worry-free #afterlifeplanning
Services Used:
Supreme trust account
Earn and Yield
UTGL Asset Link Credit Card
Global wealth management in the trust platform
