Trust

A trust is a prominent estate planning tool which can represent as one of the most tax-efficient ways to preserve the value of your assets. You can use trust for a variety of purposes such as passing wealth onto successive generations or establishing charitable foundations. Effective trust planning, management, and administration can be an extremely complex matter.

PSS Trust is a significant trustee in our own right, through our global foundations designed to address major social and cultural issues. Many financial institutions offer help with trust, but few can match the qualities of our wealth management.

We can provide you with practical and relevant wealth management advice both for today and tomorrow, advising you with the benefit of our seasoned opinion on what will be the best strategy, based on your goals and risk appetite. Currently, the types of trust we offer include:

• Discretionary Trusts
  
  Discretionary trusts could be suitable if you are incapable of forecasting the needs of your selected beneficiaries, or you cannot name individual beneficiaries, for instance unborn grandchildren.
  
  Discretionary trusts are normally irrevocable and may either be a Full Discretionary Trust which provides the trustee broad powers to decide how the trust fund should be invested and distributed, or a Partial Discretionary Trust which allows you to retain investment control and to invest in a wider range of assets.
• Fixed Interest Trusts
  
  Fixed interest trust gives you the right to indicate exactly who should benefit from the trust and the manner in which they should benefit. The trustee, therefore, has very few, if any, discretionary powers reserved to it under the terms of the trust.
  
  A fixed interest trust may be most suitable if you wish to distribute the income generated from trust assets to a particular person during his or her lifetime (for example, your spouse), but you would like the eventual beneficiaries of those assets to be other persons (such as your children).
• Accumulation and Maintenance Trusts
  
  Normally, accumulation and maintenance trusts are utilized to benefit a certain group of beneficiaries such as grandchildren. This scheme is partially discretionary, and to a certain extent fixed, with the trustee (depending on the terms set out in the trust deed) being given relative freedom to make decisions in the best interests of your beneficiaries prior to them reaching a certain age.
• Reserved Powers Trusts
  
  Reserved powers trusts are revocable trusts that may be appropriate if you wish to retain a degree of control over how your assets are managed, such as decisions affecting investments, and addition and removal of beneficiaries. In addition, this type of trust may be ideal if your main objective is not alleviating tax liabilities.