What Is A Trust?
A trust is a legal structure created specifically to hold assets for the benefit of a beneficiary or beneficiaries. A trust enjoys specific legal protections under the laws of Malaysia. Any property, tangible or intangible, can be the subject matter of the trust. Talk to our experts if you need further clarification on this.
Why Create A Trust?
A trust can be used to help preserve and distribute wealth to meet a wide variety of personal and financial goals. Some people use them to protect assets from future claims while continuing to receive discretionary income and principal distributions from those assets. Others use them to pass wealth to future generations or to provide for charitable organizations. Different types of trusts can be used to meet the goals of the person who establishes the trust.
Some trusts require the grantor to give up control of the trust assets immediately, while others allow the grantor to retain control of the assets during his or her lifetime and to collect income from the trust prior to his or her death. It is not uncommon for someone to need more than one type of trust to meet all of their needs. UBBT Agency offers a wide variety of options to cater for your every need, including a Cash Trust.
FAMILY TRUST
As Malaysians become more affluent and sophisticated, there is an increasing needs for professional trust management services. We take into account your unique circumstances, to provide bespoke trust solutions which are consistent with your personal goals and believes.
PROPERTY TRUST
If the bulk of your assets consist of property and you intend to retain it after your passing, we will administer your properties based on your instructions, ensure that they are kept in good condition, rentals are collected on time and paid to the beneficiaries of your property trust. Properties under a trust will NOT become a part of a deceased person’s estate. They will be held discreetly and will be executed directly to the nominated beneficiary or beneficiaries swiftly.
Benefits of Having A Trust
- ASSET PROTECTION : In simple terms, assets transferred to a trust no longer form part of the Settlor’s property, so the trust assets cannot be seized if a Settlor gets into financial difficulties.
- CONFIDENTIALITY: A legal form of transfer via trust would generally save estate duty and keep the trust assets confidential. Unlike will which is a public procedure.
- PROTECTING WEAK: A trust provides a vehicle by which a person can provide for those who may be unable to manage their own affairs such as infants, children, the elders, the disabled or persons suffering from illness.
- PRESERVING FAMILY ASSETS: Preserving the family assets, or increasing them, is often a motive for setting up a trust.
- AVOID PROBATE: Distribute assets to heirs efficiently without the cost, delay and publicity of probate court.
Cash Trust
UBB Cash Trust is a trust that you establish in which you deposit funds that can be made available to your specified beneficiaries in the event of an emergency. It provides rapid cash for expenses and relief during times of crisis. UBB Amanah Berhad is the pioneer to establish the Cash Trust, which is now imitated by competitors.
Education Trust
We offer you a pathway to set aside money for your loved one’s education. There are no two ways about it – raising a child is expensive. Hence, UBB Education Trust is a safety net where you place a sum of cash in a trust that can be made available to your named beneficiaries to pursue their studies.
Amanah Liawm Mumtir
Amanah Liawm Mumtir (ALM) is a safety net where you place a sum of cash in a trust that can be made available to your named Beneficiary (al-Mauhub Lahu) to manage expenses incurred by the Beneficiary upon the death of the Donor (Mudi’) during the Tenure of the Trust including but not limited to expenses in connection with the funeral costs, living costs, education fees and any debts due and owing by the Donor and/or the Beneficiary.
Insurance Trust
The UBB Insurance Trust is a legal arrangement in which you assign your life insurance policy to UBB Amanah Berhad as Trustee. Following the triggering events, such as disability, coma, or death, UBB will recover the insurance proceeds and then preserve, administer, and distribute them to your named trust beneficiaries over time, all in accordance with your objectives as indicated
in the Trust Deed.
in the Trust Deed.
Corporate Bespoke Trust Services
Make use of our unbiased, jurisdictional expertise, as well as our innovative, diverse, and collaborative approach, to ensure the success of your business endeavors. Make an appointment with one of our experienced professionals to decide which trust is most suited to your specific needs.