I am a trust beneficiary, what should I know?

I am a trust beneficiary, what should I know?

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It’s not uncommon for parents or grandparents to establish trust for future generations. If you’re a trust beneficiary, you should know the terms and conditions, as well as the role of the trustee.

Losing a family member or a close friend is one of the hardest experiences you’ll ever have to face. It can also place you in a new legal position: being named in a will or trust

1. Your role in a trust

You are the person whom the settlor (i.e. the contributor of the trust assets) has given the assets to be cared for. Simply, you are the person who will ultimately benefit from the trust

2. Roles of the trustee

Your trustee has a fiduciary duty to you and takes direction solely from the terms of the trust.

  • Fiduciary duty means the trustee is expected to act in the best interest of the beneficiaries (i.e. you).
  • The trustee must act objectively in the management of the trust.
  • The settlor may specify an individual or company to handle specific duties, such as investing trust assets.

Read your trust document thoroughly and review it with your trustee.

3. When will I receive the trust assets?

In the event of the death of the principal, the trust company will strictly enforce the distribution of assets to the beneficiaries in accordance with the terms of the trust deed with reference to the wishes and proportions set by the Settlor during his lifetime.

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The terms of UniTrust's trust deed state that upon the death of a principal, the trustee has the discretion to liquidate the trust assets and distribute them to the beneficiaries. Unless otherwise stated, if there is more than one beneficiary, the trust assets shall be distributed equally to the beneficiaries.

4. Do I have to pay income tax on the money I receive from the trust?

It is subject to your tax residency and the type of trust. Talk to your tax advisor regarding how the trust and distributions will be taxed.

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UniTrust may ask beneficiaries for a passport or ID copy to verify the beneficiaries' identity and understand whether the beneficiaries reside in a high-tax country. UniTrust can assist in planning the allocation arrangement to achieve the most tax-efficient solution.

5. Tips you should know

  • Keep a copy of the trust document
  • Review the account and investment statements you receive
  • Have meetings with your trustee

Visit Trust Basics page for more information on trusts.

信託受益人認知

預先規劃 做好準備 無懼人生巨變

信託是一項高規格的法律安排，信託成立人(即資產貢獻者或稱委託人)將所持資產轉讓給受託人(通常是專業信託公司)，信託公司以法律授予的權力及以受益人最大的利益妥善地管理資產。信託受到高程度的國際認可，所有人不能異議*，絕少信託個案可以被攻擊。信託資產及個人及受益人資料既安全，又保密。

  • 信託成立年期5年或以上，其保護性是最高。

受益人是委託人(即資產貢獻者) 拿出財產信託所要照顧的對象**，讓受益人因信託而最終得利益的人。

受益人是信託被視為成立有效性之一。所以成立的時候是必須提供誰是受益人。

受益人可以是任何人(家人、親戚、朋友、同事、寵物、慈善機構、未出生的子女或子孫)，也沒有人數限制**。

一旦委託人故離世，信託公司會參照委託人生前所訂立的意願及比例，依據信託契約的條款，嚴格執行分派資產予受益人**。

  • * UniTrust需要核實受益人資料，及了解受益人稅居地是否高稅率國家， UniTrust可協助規劃分配安排，以達到稅務最優惠的方案。

UniTrust 的信託契約條款中列出，委託人去世後，受託人有酌情權清算信託資產並將其分配給受益人。除非另有說明，如果受益人不止，信託資產應平均分配給受益人。

委託人成立信託的時候，需要提供以下受益人的資料:

  1. 名字 (與護照或身份證相同)
  2. 出生日期
  3. 護照或身份證號碼
  4. 聯絡電話
  5. 與委託人的關係
  6. 享受到信託資產的百分比

—> 護照或身份證副本可在成立的時候提供，或者要分派資產的時候，信託公司會要求受益人提供。

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