UTGL Trust beneficiary payout rules
According to the terms of the Trust agreement/Deed, beneficiaries are entitled to receive payments on a monthly basis for their living expenses.
To ensure that the beneficiary is able to receive payment, please ensure that their name is on the beneficiary list and that their details are up-to-date. Either one-off or recurring payments can be made. Our compliance team reserves the right to reject any payment if there are any compliance issues. Instructions for making a payment can be found online.
There are limits to the number of beneficiaries and the maximum amount that can be paid to each beneficiary are based on your account level.
Account level | Maximum number of beneficiaries | Maximum amount of payout to each beneficiary (per month) |
Pre-Trust | ||
Virtual | 0 | 0 |
Standard | 2 | USD 1,000 |
Premium | 2 | USD 3,000 |
Elite | 4 | USD 10,000 |
Metal | 5 | USD 20,000 |
Private/Corporate Trust | 5 | USD 40,000 |
SPV Private/Corporate Trust | No limit | USD 62,500 |
Family Office | No limit | USD 100,000 |
Note: additional amount of payment to the beneficiary is subject to approval by the Trustee
Disclaimer
As the Settlor, it's important to understand the payout rules and limitations that apply to your trust. These rules vary and depend on the terms of the trust instrument, including the age at which you are eligible to receive payments, the frequency of payments, and the amount of each payment. For a discretionary trust, the trustee has the discretion on the distribution arrangement to the beneficiaries.
You are advised to consult the trust documents with a qualified lawyer to understand the terms and payout rules of trust. Additionally, you should also ensure that the beneficiary of your trust and your account details are accurate and up-to-date.
It is important to note that the number of beneficiaries and the amount that can be paid to each beneficiary are based on your account level. UTGL reserves the right to make adjustments to the limits and rules of the trust without prior notice.
UTGL is not responsible for any errors or omissions that may occur in the instructions provided online. UTGL may not notice any changes.
In conclusion, it is important for a trust beneficiary to understand the payout rules, limits and compliance of the trust, ensure your name and account details are up to date and check with the trustee regularly to avoid any errors or omissions. UTGL is not responsible for any changes or errors that may occur, so it's important to be proactive in monitoring your own trust.
