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Putting Your Trust Where It Counts

The Gift of Security for the Next Generation

When it comes to family, nothing matters more than ensuring that their future is secure. You want to provide for them, protect them, and safeguard their best interests, knowing that when the future arrives, they have what they need to preserve your legacy. The most successful families have been utilising trusts to achieve that, and with DBS Treasures Private Client, you can be rest assured that your wealth is in the best possible hands.


How Trusts Work

A trust is an arrangement where the Settlor, the creator of the trust, transfers his assets to the Trustee with guidance on how the assets should be managed for the benefit of the Beneficiaries. You can harness this exclusive service to preserve your assets and ensure your loved ones are well looked after.


The Difference Between A Trust And A Will

Will

A will is a legal document that states your final wishes, allowing for the administration and distribution of your estate.

Trust

A trust is an extremely useful tool in succession planning and wealth protection.

The most distinguishing factor is that the assets settled into a trust do not count as assets belonging to you; they are held completely separate from your own assets, providing an autonomous characteristic that better secures your assets from unforeseen circumstances.

Probate Trust

A Probate Trust is a simple trust primarily created to avoid probate formalities. Your assets can only comprise financial assets held with DBS Bank and will be distributed immediately upon death, allowing you to benefit from additional savings through cost efficiency.

Private Trust
by DBS Fiduciary Services

Private Trusts can be very simple when intended for limited purposes, or customised to suit more complex needs, which will require a legal advisor to draft a special deed of settlement. There are different types of Private Trust structures available for various purposes, depending on the needs and circumstances of a client. Whichever Private Trust you choose, each is established under DBS Trustee Limited, which is principally structured to protect and preserve your wealth for up to a maximum of 100 years.

  • Standard Discretionary Trust
  • This type of Private Trust lets you include additional asset types such as financial assets with other financial institutions, onshore and offshore real estate properties and life insurance policies. It gives you a more comprehensive succession planning solution.

  • Customised Trust
  • This type of Private Trust gives you the freedom to modify the standard deed of settlement to make accommodations that address unique issues such as complicated asset combinations or inheritance plans, tax planning and protection of assets from creditors. This requires the expertise of a trained legal advisor in the creation of a personal deed of settlement.


Advantages Of A Private Trust

Orderly Distribution of Assets

Assets in a Private Trust can be distributed to the Beneficiaries in an orderly and specific manner, beginning at any specified time, and in a lump sum or regular instalments.

Asset Protection

An irrevocable trust represents a permanent transfer of assets by you to the Trustee, and may help protect your assets from future claims of creditors, helping combat business owners' susceptibility to risks and litigation.

Provision for Self or Dependents, and Protection of Family's Wealth

A Private Trust is a useful vehicle to provide for dependents who are unable to manage their own financial affairs, and for your own maintenance, medical expenses and living costs in the event of your incapacity or serious illness. It can also help protect your family's wealth against dissipation by extravagant family members, or against a Beneficiary's imprudence, inability to manage financial affairs or matrimonial disputes.

Avoids Probate Formalities

Probate can be a lengthy and expensive process, open to unnecessary publicity and disputes. Since assets in a Private Trust no longer form part of the Settlor's estate, they are not subject to probate.

Avoids Potential Disputes

Disputes involving family members fighting over a deceased's will and estate assets are not uncommon. The confidentiality of a Private Trust arrangement ensures that even the Beneficiaries need not know of its existence until the entitlement arises, reducing the possibility of family disputes.

Tax Planning

A Private Trust may be used in limiting your tax exposure for different forms of tax such as estate duties, wealth, capital gains, income or gift taxes. When considering migration to high tax jurisdictions, a well structured Private Trust may also assist in managing potential exposure to taxes in the destination country.

Confidentiality and Flexibility

A trust deed is a private arrangement between you and DBS Trustee Limited as there is no requirement to register a Private Trust in Singapore. You can let the Trustee know your wishes as to how much and when Beneficiaries receive their entitlement by providing for this in your Letter of Wishes. With a revocable trust, you have the power to revoke or terminate the Trust, and add or remove Beneficiaries at any time. As a Settlor, you can choose to continue recommending investment directions to the Trustee. The reservation of investment powers does not invalidate a Singapore trust.

DBS Fiduciary Services

The expertise of DBS Fiduciary Services lies in the establishment and administration of Private Trusts that cater to high net worth clients, for the global protection of family assets for current and future generations. Committed to quality, we provide tailor-made solutions to satisfy the needs of our privileged clientele with discretion


Put Your Future Into the Right Hands

DBS is one of the most reputable banks in the region, highly rated as Asia's safest and Singapore's best bank. With your legacy as our top priority, we strive to provide exemplary service that further strengthens our reputation in the wealth sector.

To find out more about Trust, make an appointment with us or contact your DBS Treasures Private Client Relationship Manager.

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