Offshore Discretionary Trust
A discretionary trust is one where trustees are allowed discretion in the way they use the income of the trust, and sometimes how they distribute the capital. The trustees may also be able to 'accumulate' income, i.e. add it to capital (an accumulation trust) or have the freedom to do both.
Either a discretionary trust or an accumulation trust may be set up to help a vulnerable beneficiary - a child below the age of 18 who has lost a parent through death or someone who is mentally or physically disabled.
Trustees Are Legal Owners
The trustees are the legal owners of the assets held in the trust, which can be money, land or buildings.
The extent of the trustees' discretion depends on the terms of the trust deed; they have a duty to run the trust for the benefit of the beneficiaries, possibly with the power to decide how much and how often income and or capital is paid out, and to which beneficiary. They may also impose appropriate conditions on the recipients.
Discretionary trusts are sometimes set up to put capital aside for education, healthcare, important purchases such as a wheel chair or even a house, and special events such as a wedding.
In an accumulation trust, the trustees can accumulate income within the trust by adding to the trust capital, either keeping it until the beneficiary becomes legally entitled to receive the income, or the trust assets themselves.
Property in Trusts
Property can be left to a trust but if that property is to be shared then there are many aspects you'll need to consider.
Only through experience will you know what they are and as we have that experience we can guide you through each aspect and help you make the
most our of leaving property in a trust.
What We Can Do
When you ask Peter Male for discretionary trusts advice, we consider your individual needs. If you buy without advice you have less protection if the policy turns out to be unsuitable.
Financial Advice
Everyone's circumstance is different and off the shelf financial products may not cater for your personal needs; but with the right financial advice from a qualified and experienced financial advisor we can help you weigh up your options and execute your wishes.
Reviews & Checks
Life changes. For this reason, whether business or personal, a review of your financial present and future, can increase financial health and your peace of mind. Moreover, you need your money to work for you and that's our job. A quick chat on the phone is all that's needed.
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In the interest of the environment we like to determine your needs over the phone or email, and your free consultation can start from there. If we need to visit and need a few hours with you then we'll let you know if there are any fees. But we do offer the first hour for free.
Investments
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Peter Male Financial Planning has been operating from Benalmadena Pueblo, Malaga since 2002 and with agents in Spain and Introducers in the UK we offer more flexibility.
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