Trust & Will Services

Private Trusts:

Globally, private trusts are widely used as an effective tool for estate and succession planning. HNW 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, MJ WEALTH has tied up with leading companies providing these services and thus helps families with trust formation

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